Following last quarter's blockbuster numbers — 35.1 million iPhones sold and $39.2 billion in revenue — Apple's financial report for this quarter looked rather meek: 26 million iPhone and $35 billion. The numbers disappointed Wall Street sending shares sliding in after-hours trading. If we look back two quarters, we see an even bigger drop from the $46 billion it shoveled in after the holiday season. So, we guess that's why CNBC called this one a "miss" with an "outlook that disappoints." (If you're looking for a visual take on said disappointment, SplatF's Dan Frommer has the "reality check quarter in charts.)
But everything is relative, and Apple is still taking a ton of money. Microsoft, which put out earnings last week, for example, had $17.41 billion in revenue; last week Google reported $12.21 billion for its most recent quarter. Apple also sold a record number 17 million iPads, up 84 percent from on year ago. And 4 million Macs, a 2 percent increase from one year ago. Apple is fine. We hear, from The Wall Street Journal, that Apple is managing its cash flow so well that it actually collects money for sales before it has to pay suppliers to manufacture them. Plus, let us not forget that the company didn't release a new gadget this quarter beyond the MacBook refresh, which was announced just a few weeks ago. Analysts expected numbers to cool a bit, speculating that hungry fans are holding off until Apple releases the new iPhone next quarter.
Plus it's not all numbers, is it. The release had some other exciting bits for both investors and consumers, too. For investors: Apple declared a cash dividend of $2.65 per share of the Company’s common stock. So woohoo for that. And then for consumers, it let us know that tomorrow is the big Mountain Lion release.
This article is from the archive of our partner The Wire.
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