Apple Earnings: $35.3B Revenue, $6.9B Profit, $7.47 EPS in Q3 2013
Apple just released their Q3 2013 earnings and they are pretty much what everyone expected coming in at $35.3 billion in revenue, $6.9 billion in profit, or $7.47 earnings per share (EPS), and 36.9% gross margins. For those curious, here is the quick comparison to last years Q3 (2012) numbers: $35 billion, profit of $8.8 billion, or $9.32 per share.
The company is still doing incredibly well, but is currently in a state where analysts and investors have more questions than they do answers. The most notable questions include will be there be an Apple TV and will there be a wearable computing device? Many indicators seem to lean in the direction of “yes,” however, Tim Cook and Co. have been very tip lipped about both topics, only really going as far to say that they have an interest in both areas.
The company sold 31.2 million iPhones, 14.6 million iPads, and 3.8 million Macs in Q3 2013. In terms of year-over-year (YOY) growth there is not much and in fact there is a decrease in sales for both the iPad and the Mac, in Q3 2012 Apple sold 26 million iPhones, 17 million iPads, and 4 million Macs.
During the last earnings call, Tim Cook told us to not really expect anything brand new until fall / early 2014. Since that time, Tim Cook spoke at the D Conference (D11) and hosted the Apple Worldwide Developers Conference back in June, but true to his word, nothing brand new has been announced yet.
While Apple has not suggested much in terms of a timeline for any new products including the next iPhone, iPad, iPad mini, and even the rumored Apple TV and iWatch maybe today’s guidance will give us some clues about the release of future Apple products and when we can expect to see them (yeah, right — don’t count on it, but one can dream). That being said, I personally expect to see the next iPhone in late September or early October.
Nonetheless, Tim Cook did promise the company is continuing to innovate and that they still have plenty of great ideas–and you know what? I believe him. Even if Apple’s earnings this quarter don’t blow investors out of the water, I still wouldn’t count the company out anytime soon.
Apple (AAPL) closed at $418.99 today and is currently trading up in after hours. Apple also now has $146.6 billion in cash. Wow.