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iPhone, Mac and iPad sales all increased this quarter
One day before Apple's most important product launch in years, the company has released its quarterly earnings info. As usual, Apple's fiscal Q4 doesn't contain a full three months of iPhone sales, so it's hard to tell how the launch of the iPhone 8 and 8 Plus affected the company, let alone the iPhone X. But, the company did manage to sell 46.7 million iPhones in the last three months, good for a slight 2.6 percent growth compared to a year ago.
All Apple had to do to sell iPads was make them cheaper
It's been about a year and a half since Apple introduced the 9.7-inch iPad Pro. It was a great device, but it also made Apple's tablet lineup more confusing than ever. I wrote at the time that Apple seemed to be just throwing ideas out there, trying to see what would make customers get back in the store and buy more iPads. I also noted that it wasn't even clear what the "best" iPad was anymore. It's taken a while, but Apple has streamlined its lineup, making clear separations among products in terms of both price and feature set. As a result, iPad sales increased year over year for the first time since the holiday quarter of 2013 (when Apple sold a whopping 26 million tablets). But this quarter's turnaround wasn't driven by Apple's "future of personal computing" vision promised by the iPad Pro. Nor was it driven by the Pro's useful features, which will only get more compelling when iOS 11 launches this fall. No, sales increased because Apple finally made a plain iPad that isn't terribly ambitious -- just affordable.
Apple's 'polarizing' new products are paying off
Throughout much of 2016, it seemed like lots of Apple fans were unhappy. The year brought few updates to the Mac (and the one big change was quite polarizing), a barely redesigned iPhone with no headphone jack, AirPods that shipped two months late and a new Apple Watch that was a modest improvement to a product still seen as nonessential. But it's time to accept that the complainers on the internet (including those of us in the media) might not have our fingers on the pulse of Apple fandom. Case in point: Apple just reported a massively successful quarter. According to CEO Tim Cook, both iPhone and Apple Watch sales hit records for both unit sales and revenue. In the case of the iPhone, that reversed three consecutive quarters of declining sales. The iPhone turnaround had to be a huge relief for Apple: The product is the company's biggest revenue source by far.
iPhone 7 turns around slowing sales for Apple
iPhone sales were bound to start dropping sooner or later, but today's earnings news from Apple sees a turnaround: iPhone sales are back up after a year. In the first full quarter with the iPhone 7 and 7 Plus on the market, Apple sold 78.3 million smartphones. That's up about five percent from a year ago, when the company moved 74.8 million iPhones. Historically, a new iPhone model has guaranteed that sales would be up as well -- and even though the iPhone 7 is a rather iterative model, it was enough to do the trick.
Apple's iPhone sales keep falling
Apple just announced its financial results for its Q4 2016, and it's not looking good: This quarter marks the third straight of declining revenues. The company pulled in revenues of $46.9 billion, down about 9 percent from the same period last year. Each of its key products was down as well. Apple sold 45.5 million iPhones, 9.3 million iPads and 4.9 million Macs in the quarter -- that's a year-over-year decline of 5.2 percent for iPhones, 6 percent for iPads and a whopping 14 percent for the Mac. Not a huge surprise, given that Apple has only updated one computer out of its lineup so far this calendar year. (That should change on Thursday, though.)
Apple deserves the benefit of the doubt -- for now
Even though Apple warned us the decline was coming, yesterday's news that iPhone sales dropped for the first time ever was still noteworthy. Correspondingly, Apple's revenues dropped for the first time in 13 years, and investors responded as you'd expect. The company's stock dropped from just over $104 at the market close to $96 when the markets opened this morning. And it's not a blip either: Apple is forecasting another decline next quarter.
Apple iPhone sales and revenue finally decline
The inevitable has finally happened. After years of continually growing iPhone sales (and corresponding revenue growth), Apple has hit a bump. The company just announced its fiscal Q2 2016 results, and the company sold 51.2 million iPhones, a 16 percent decline from the 61 million it sold one year ago. It's the first time iPhone sales have ever declined year-over-year. Similarly, revenues of $50.6 billion were down 13 percent from the $58 billion it made in Q2 2015. The company warned on its last earnings call that this was likely to happen, but it's still quite notable. Apple has describing its quarterly revenue as "record-breaking" for so long that it's hard to remember the last time it had a down quarter. (The Wall Street Journal says it's been an incredible 13 years.)
Apple planned ahead for the inevitable hardware slump
It was inevitable but nonetheless concerning to investors: iPhone sales flattened out this quarter, part of an overall trend of weakness in the smartphone market, and Apple admitted that next quarter will see sales decline year over year for the first time. Yes, the company just reported record-breaking profit -- again -- but as the iPhone goes, so does Apple. As such, the company is forecasting its first revenue decline in years.
Apple has another record quarter, but iPhone sales growth slows to a halt
It's going to be very interesting to see Apple spin these financials results. The company just announced its Q1 2016 results, and the company posted recored quarterly revenue and profit of $75.9 billion and $18.4 billion, respectively. That sounds great until you realize that the doomsaying over slowing iPhone sales has come true. Apple sold 74.8 million iPhones in its first full quarter of iPhone 6S and 6S Plus availability -- up a meager 0.4 percent over a year ago. As such, the company is forecasting revenue for the next quarter to land between $50-53 billion, a number that would mark a year-over-year decline in revenue for the first time since 2009.
The iPhone helped Apple to another quarter of record-breaking sales
Apple just announced its Q4 2015 financial results, and as usual it's another big quarter for the iPhone. The company sold just over 48 million iPhones in Q4, up from 39.3 million one year ago. That's despite the fact that the new iPhone 6s was only on sale for about one week of the quarter. The company says it also had the biggest quarter of Mac sales ever, with 5.7 million units sold -- that's up from 5.5 million in the year-ago quarter.
Apple announces Q3 2013 financial results
Today, Apple announced its quarterly earnings for Q3 2013. In this latest quarter, Apple recorded revenue of US$35.3 billion and quarterly net profit of $6.9 billion. International sales accounted for more than half (57 percent) of the quarter's revenue. In all, Apple sold 31.2 million iPhones, up 20 percent year over year. The company also sold 14.6 million iPads and 3.8 million Macs in the quarter. These two numbers are down from the same quarter last year when Apple sold 17 million iPads and 4 million Macs. We'll be starting our liveblog at 4:50 PM ET. Join us! Show full PR text Apple Reports Third Quarter Results Sales of 31 Million iPhones Set New June Quarter Record CUPERTINO, Calif.--(BUSINESS WIRE)--Apple® today announced financial results for its fiscal 2013 third quarter ended June 29, 2013. The Company posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter's revenue. "Management's Discussion and Analysis of Financial Condition and Results of Operations" The Company sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. The Company sold 3.8 million Macs, compared to 4 million in the year-ago quarter. Apple's Board of Directors has declared a cash dividend of $3.05 per share of the Company's common stock. The dividend is payable on August 15, 2013, to shareholders of record as of the close of business on August 12, 2013. "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," said Tim Cook, Apple's CEO. "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." "We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases," said Peter Oppenheimer, Apple's CFO. Apple is providing the following guidance for its fiscal 2013 fourth quarter: • revenue between $34 billion and $37 billion • gross margin between 36 percent and 37 percent • operating expenses between $3.9 billion and $3.95 billion • other income/(expense) of $200 million • tax rate of 26.5% Apple will provide live streaming of its Q3 2013 financial results conference call beginning at 2:00 p.m. PDT on July 23, 2013 at www.apple.com/quicktime/qtv/earningsq313. This webcast will also be available for replay for approximately two weeks thereafter.
Daily Update for April 24, 2013
It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world. You can listen to today's Apple stories by clicking the inline player (requires Flash) or the non-Flash link below. To subscribe to the podcast for daily listening through iTunes, click here. No Flash? Click here to listen. Subscribe via RSS
More realistic guidance from Apple results in better analyst estimates
Apple 2.0's Philip Elmer-DeWitt put it the best in the subhead for his Apple Earnings Smackdown article this morning when he said "Apple management may have found a way to tame the wild beasts of Wall Street." What he was referring to was the fact that most Wall Street analysts were actually quite close on their estimates of how Apple performed in the second quarter of its fiscal year, thanks to new guidance rules that had been announced by CFO Peter Oppenheimer in January. The Smackdown is a quarterly roll call of analyst estimates and how well various institutional and independent analysts fared in their educated guesses of Apple performance. On the Q1 2012 earnings call, Oppenheimer stated that the company would no longer give analysts conservative forecasts, or as Elmer-DeWitt put it: "Rather than tell them what the company was reasonably confident it could achieve the following quarter, it would offer a range of guidance that reflected what it believed it was likely to achieve (emphasis is Elmer-DeWitt's)." Oppenheimer's pronouncement appears to have been embraced by the financial wizards, as 26 of 62 analysts picked the March quarter revenue and earnings within 2.5 percent. That's a vast improvement over the 2011 estimates for the same quarter that were off by a combined average of 11 percent. And while independent analysts used to do a much better job of making accurate estimates than the pros, the difference was essentially non-existant this time around. Perhaps between better guidance from Apple, closer estimates by analysts and the company's agressive dividend payout and stock repurchase plans, Apple CEO Tim Cook and Oppenheimer may have developed a method to sooth the nerves of Wall Street and hopefully halt the recent slide in the value of the company's share price.
The Daily Roundup for 02.01.2013
You might say the day is never really done in consumer technology news. Your workday, however, hopefully draws to a close at some point. This is the Daily Roundup on Engadget, a quick peek back at the top headlines for the past 24 hours -- all handpicked by the editors here at the site. Click on through the break, and enjoy.
The Weekly Roundup for 01.21.2013
You might say the week is never really done in consumer technology news. Your workweek, however, hopefully draws to a close at some point. This is the Weekly Roundup on Engadget, a quick peek back at the top headlines for the past 7 days -- all handpicked by the editors here at the site. Click on through the break, and enjoy.
Daily Update for January 24, 2013
It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world. You can listen to today's Apple stories by clicking the inline player (requires Flash) or the non-Flash link below. To subscribe to the podcast for daily listening through iTunes, click here. No Flash? Click here to listen. Subscribe via RSS
Apple to add 36 new LTE carriers
According to an announcement made by Apple CEO Tim Cook during yesterday's Q1 2013 earnings call, next week will be an auspicious one for users of iOS devices that support the fast LTE mobile data standard. During the week, 36 wireless carriers worldwide will be added to the 24 already providing LTE support for the iPhone 5, third- and fourth-generation iPad and iPad mini. Those carriers, according to Cook, are in "countries that were previously not supporting LTE." The rollout will provide LTE service to over 300 million subscribers in Italy, Switzerland, Denmark, several Middle Eastern countries and more. Up until this time, owners of iOS devices supporting the LTE standard have not been able to take advantage of the fast connection speeds. The news may provide solace to Wall Street analysts, who were concerned that support for iPhone LTE coverage had been slow in coming.
Apple's iCloud user base breaks 250 million
During yesterday's Q1 2013 earnings call, Apple CEO Tim Cook mentioned several times that the iCloud storage service now has more than 250 million users. That's not particularly surprising, since signing up for a free iCloud account is part of the setup process when you purchase any new Apple product. What is surprising is how quickly the service has grown, jumping from 85 million in January of 2012 to triple that number in 2013. The company is investing in the data centers used for iCloud. Part of the discussion with analysts yesterday afternoon dealt with capital expenditures, with Apple planning to spend money on three primary targets -- retail stores, equipment for suppliers and data centers.
The Daily Roundup for 01.23.2013
You might say the day is never really done in consumer technology news. Your workday, however, hopefully draws to a close at some point. This is the Daily Roundup on Engadget, a quick peek back at the top headlines for the past 24 hours -- all handpicked by the editors here at the site. Click on through the break, and enjoy.
