Home Business Apple’s fourth quarter earnings beat forecasts

Apple’s fourth quarter earnings beat forecasts

Apple’s fourth quarter earnings beat forecasts

apples's forNew York, October 29 Apple inc. earnings for the fourth quarter of 2013 year showed the company’s revenue and profit beat expectations, however profit margin guidance for following quarter fell short of market estimates.

The company posted Monday quarterly revenue of $37.5 billion, more than the $36 billion of a year ago.
The company’s quarterly profits reached $7.5 billion, or $8.26 per diluted share, below the $8.2 billion, or $8.67 per diluted share a year earlier.
It was better than the market’s expectation of $36.93 billion and $7.96 a share.

However, profit margin guidance for its first quarter of 2014 year provided by Apple stood between 36.5 % and 37.5 percent, below the forecast of 37.9 percent. Its profit margin was 37 % in the fourth quarter, compared to 40 % in the same quarter of last year.

The company sold 33.8 million iPhones. Apple additionally sold 14.1 million iPads and 4.6 million Macs throughout the quarter, each more than a similar period of last year.

He added: “We’re excited to go into the vacations with our new iPhone 5s and iPhone 5c , iOS 7, the new iPad mini with retina display and also the incredibly skinny and lightweight iPad Air, new MacBook pros, the radical new mac pro.”

Apple’s shares closed at $529.88, however the shares fell about 0.5 % in after-trading hours and last listed around $527.16.


Please enter your comment!
Please enter your name here