Company's third
quarter results come in slightly stronger than expected, fueled by the iPhone,
but iPad sales were far below what Wall St. expected.
Apple narrowly beat
expectations on Tuesday, with better than expected earnings.
Apple reported
earnings of $6.9 billion, or $7.47 per share on $35.6 billion in sales. Wall
Street was expecting Apple to post earnings of $7.32 per share on sales of $35
billion.
Apple said it sold
31.2 million iPhones, 14.6 million iPads, and 3.8 million Macs during the
quarter.
"We are
especially proud of our record June quarter iPhone sales of over 31 million and
the strong growth in revenue from iTunes, Software and Services,"
Apple CEO Tim Cook, said in a statement. "We are really excited about the
upcoming releases of iOS 7 and OS X Mavericks, and we are
laser-focused and working hard on some amazing new products that we will
introduce in the fall and across 2014."
Looking ahead, the
company said it expects to sales between $34 billion to $37 billion, with a
margin between 36 and 37 percent. That's below the sales of $37.55 billion and
in line with the 36.8 percent gross margin Wall St. analysts polled by Thomson
First Call expected.
Apple is hosting a
call with financial analysts at 2 p.m. PT (listen
here), which typically provides a number of insights into company,
including stats that aren't initially reported. We'll add any important details
from that call to this post. cnet.
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