It ain't easy being Apple these days. Turn over $35bn in revenue in just three months, raking in profits of $8.8bn, and what do they say? “Growth slowdown”, “earnings miss” and “below expectations”.
Talk about the kind of criticism you can live with!
The negative talk was based around the fact that those massive profits amounted to earnings per share of $9.32, not the $10.37 analysts were hoping for.
As far as missed estimates go, it's quite a big miss, though expectations surrounding Apple are so high these days it's hard to keep things realistic. It's worth pointing out that the figures actually exceeded Apple's own forecasts very slightly (though there's a certain amount of deliberate underplay there too).
In terms of device sales, any disappointments were clearly the result of a massive drop in iPhone sales – from 35 million the previous quarter to just 26m this time around. That's obviously down to iPhone 5 expectations, so in a sense the bigger the loss right now, the bigger the explosion we're likely to see in the next set of figures.
iPad sales, meanwhile, hit an all-time high of 17 million, and overall it allowed Apple to issue a $2.65 per share stock dividend for Q3. Oh, and the company has $117bn in cash reserves.
Ah, the disappointment...
Via The Verge