Apple Tanks Its Earnings Report
July 24, 2012 by Jon C. Ogg
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 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
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