Apple Tanks Its Earnings Report
Apple Inc. (NASDAQ: AAPL) has managed to report what will feel like a disaster to those are now so used to blowout earnings reports. The consumer electronics giant which has become the largest valued company in the world gave earnings…
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The consumer electronics giant which has become the largest valued company in the world gave earnings of $9.32 EPS and $35 billion in revenue. Thomson Reuters had estimates much higher of $10.36 EPS and $37.18 billion in revenue.
The company’s gross margin was 42.8% and 62% of its sales came from international markets. These are both lower than the last quarter report, so currency is taking a toll here.
There has been a growing concern that the waiting for the iPhone 5 was dragging on iPhone sales, but that may have been abated by the hot sales of the new iPad. Here were Apple’s sales per unit and other select data: 26 million iPhones; 17 million iPads; and 4 million Macs.
Apple’s board declared a cash dividend of $2.65 per share payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012.
Options traders were calling for a move of more than $16 earlier today and shares are don over $32.00 or 5.3% to $568.01 in the after-hours trading. Apple closed down 0.4% at $601.29 against a 52-week range of $353.02 to $644.00.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
