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Rare Miss for Apple: Q4 Earnings Disappoint

Net income is up, but short of analyst expectations

By the Associated Press

Posted Oct 18, 2011 4:01 PM CDT

(AP) – Apple failed to set a sales record in the last three months of founder and CEO Steve Jobs' life. Its financial results came in below expectations—a rare miss for the company. After several record quarters, the July-to-September period saw Apple biding its time, with no new iPhone or iPad releases. (The iPhone 4S came out in October.) Net income in the fiscal fourth quarter was $6.62 billion, or $7.05 per share. That was up 54% from $4.31 billion, or $4.64 per share, a year ago.

Analysts polled by FactSet were expecting earnings of $7.28 per share. Revenue was $28.3 billion, up 39%. Analysts were expecting $29.4 billion. Apple sold 17.1 million iPhones in the quarter, well below analyst expectations and the 20.3 million sold in the third quarter.

In this Oct. 4 file photo, Apple CEO Tim Cook introduces the iPhone 4S.
In this Oct. 4 file photo, Apple CEO Tim Cook introduces the iPhone 4S.   (AP Photo/Paul Sakuma, File)
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COMMENTS
Showing 3 of 7 comments
chas_m
Oct 19, 2011 1:43 AM CDT
Shockingly bad reporting from the AP. Apple EXCEEDED its own guidance by a very considerable margin, made more sales AND profit than it EVER HAS in its ENTIRE HISTORY, and moved almost as many iPads in three MONTHS as it did in the iPad's first NINE months. But yes, they DID miss what Wall Street ANALcysts **made up** as expected figures. This story seems like a very *blatant* attempt at stock manipulation to me, I think the FTC really ought to look into this.
mistersnaps
Oct 18, 2011 9:37 PM CDT
LOL! Apple posted the highest 4th-quarter revenue and highest earnings in their history. It was a record quarter. Is some AP ghoul trying to survive an APPL short  by dancing over Steve Jobs's corpse?? Oh, and that 4s that was such a big disappointment? "Suri, sent a text message to Wall Street for me. Tell them I said fuck off."
MDD
Oct 18, 2011 7:53 PM CDT
Disappointed no one, but some not so bright wall street guys who every quarter try to guess companies earning. Means nothing!!! Apples numbers came in higher then their own expectations and higher year over year! Apple posted record revenue of 28.27 Billion!!! http://macdailynews.com/2011/10/18/apple-posts-record-revenue-of-28-27-billion-misses-street-expectations/

Copyright 2013 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

 
Apple • corporate earnings

 
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