Apple Reports Better-Than-Expected Quarter Driven By iPhone Sales (cnbc.com) 17
Apple reported stronger-than-anticipated iPhones sales in its second-fiscal quarter earnings report today.
"The highlight of Apple's report was iPhone sales, which grew from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time," reports CNBC, citing an IDC estimate. "IPhone revenue grew 2% during the quarter, suggesting that parts shortages and supply chain issues that had hampered the product for the last few years, including an iPhone factory shutdown late last year, had finally abated." From the report: Here's how the company did versus Wall Street expectations per Refinitiv consensus expectations:
EPS: $1.52 vs. $1.43 expected
Revenue: $94.84 billion vs. $92.96 billion expected
Gross margin: 44.3% vs. 44.1% expected
Apple reported $24.16 billion in net income during the quarter versus $25.01 billion last year. Overall revenue was down 3% from last year's $97.28 billion in sales.
Here's how Apple's individual product lines did versus StreetAccount consensus expectations:
iPhone revenue: $51.33 billion vs. $48.84 billion expected
Mac revenue: $7.17 billion vs. $7.80 billion expected
iPad revenue: $6.67 billion vs. $6.69 billion expected
Other Products revenue: $8.76 billion vs. $8.43 billion expected
Services revenue: $20.91 billion vs. $20.97 billion expected
"The highlight of Apple's report was iPhone sales, which grew from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time," reports CNBC, citing an IDC estimate. "IPhone revenue grew 2% during the quarter, suggesting that parts shortages and supply chain issues that had hampered the product for the last few years, including an iPhone factory shutdown late last year, had finally abated." From the report: Here's how the company did versus Wall Street expectations per Refinitiv consensus expectations:
EPS: $1.52 vs. $1.43 expected
Revenue: $94.84 billion vs. $92.96 billion expected
Gross margin: 44.3% vs. 44.1% expected
Apple reported $24.16 billion in net income during the quarter versus $25.01 billion last year. Overall revenue was down 3% from last year's $97.28 billion in sales.
Here's how Apple's individual product lines did versus StreetAccount consensus expectations:
iPhone revenue: $51.33 billion vs. $48.84 billion expected
Mac revenue: $7.17 billion vs. $7.80 billion expected
iPad revenue: $6.67 billion vs. $6.69 billion expected
Other Products revenue: $8.76 billion vs. $8.43 billion expected
Services revenue: $20.91 billion vs. $20.97 billion expected
Awesome!! (Score:2)
Nice. I'm happy. Good job.
Haters can suck it.
Re:Awesome!! (Score:4, Insightful)
Or, it just means that the analysts' predictions were low.
Re: (Score:2)
As long as the stock goes up, I don't really care.
Re: (Score:1)
Nothing like free money for nothing. We'll never have to pay the price, we'll be dead and gone. Fuck the future! Fuck humanity! Fuck the Earth.
Fuck your phone, and fuck you.
Re: (Score:2)
Anything for a dollar. Let's hook up!
Profits up? Sales down? (Score:2)
Re: (Score:2)
Well of course, this has always been Apple's SOP: keep raising prices to increase profit margins. Their marketing engine is second to none, it keeps people loving their products and being willing to pay those inflated prices.
Re: Profits up? Sales down? (Score:2)
So, normal business for any company not reliant on volume to make low margins worthwhile?
Re: (Score:2)
Low margins? Apple's profit margin is around 45%. https://finance.yahoo.com/news... [yahoo.com]. There is nothing "low" about that.
By contrast, Motorola's profit margins for their phones are under 15%. https://www.macrotrends.net/st... [macrotrends.net].
Samsung, 17% https://www.forbes.com/sites/j... [forbes.com]
Typical, 13% (see above link)
So no, not "normal" business.
Re: Profits up? Sales down? (Score:2)
Yes, it is normal business. The correct price is the maximum the market will bear. You have to consider volume and impact on future business. What can you charge your customers while keeping them loyal and happy? Are you selling something only you can provide?
If you're selling something that a buyer can obtain elsewhere then you're relying on volume to make low margins worthwhile. Motorola is selling a products that aren't particularly unique, certainly not differentiated from other brands in the eyes of th
Re: (Score:2)
What you say is true, as long as information is readily available. Good information is key to making the free market work. When information is limited or restricted, people may pay more for products than they would if they had better information about the options available to them.
Apple has achieved its dominance by building a tightly-controlled ecosystem. Once you are an Apple customer, you are strong-armed into using other products in the Apple ecosystem. As an example, you can't even properly share video
Re: Profits up? Sales down? (Score:2)
>What you say is true, as long as information is readily available. Good information is key to making the free market work. When information is limited or restricted, people may pay more for products than they would if they had better information about the options available to them.
It remains true and isn't contingent on information symmetry. That I might never wash my hands doesn't alter the fact I'm the only chef in town who can cook a good vindaloo. It's not like other companies are forbidden from mak
Re: (Score:2)
You are touching on anti-trust law here. When a company is small and there is lots of competition, there is no problem with that company trying to lock its customers in to their product line. But there is a threshold, when a company dominates a market to an extent that real competition is limited or impractical, then lock-in becomes an abuse of power covered by anti-trust law.
In the US, Apple dominates the smartphone market. There is really only one significant alternative (Android), and Apple has built sig
Re: Profits up? Sales down? (Score:2)
>You are touching on anti-trust law here. When a company is small and there is lots of competition, there is no problem with that company trying to lock its customers in to their product line. But there is a threshold, when a company dominates a market to an extent that real competition is limited or impractical, then lock-in becomes an abuse of power covered by anti-trust law.
There seems to be plenty of competition. There's a mentality where people automatically view significant market share (e.g. 50%)
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The concept behind antitrust law is that, as a company reaches market dominance the very nature of what is ethical changes for that company. Things that are ethical and legal for smaller companies, are not legal and ethical for dominant ones.
Wikipedia has a pretty good writeup on this. https://en.wikipedia.org/wiki/... [wikipedia.org]
Moving production out of China (Score:2)
https://www.computerworld.com/... [computerworld.com]
https://finance.yahoo.com/news... [yahoo.com]