Apple Q4 Earnings 2013

Apple’s numbers are out!

It’s a beat on revenue, EPS, and iPhone. It’s a slight miss on iPad.

While the headline numbers look good, investors are not impressed.

The stock fell as much as 3.85% in after hours trading. Twenty minutes after results were out, it was down just 2.35%.

The only explanation we can come up with for the stock falling is worse than expected margin guidance for the holiday quarter. Investors may have been expectation a huge margin bump, but with new iPads in the quarter, the margin may not be as healthy as people want.

We’re filling in all the big numbers as quickly as possible...

  • Revenue: $37.5 billion versus expectations of $36.82 billion
  • EPS: $8.26 versus expectations of $7.92
  • iPhone: 33.8 million units versus expectations of 31 million units
  • iPad: 14.1 million units versus expectations of 14.5 million units
  • Mac: 4.6 million units versus expectations of 4.6 million units
  • Gross Margin: 37% versus expectations of 37%
  • December quarter revenue guidance: $55-$58 billion versus expectations of $55.53 billion
  • December quarter gross margin guidance: 36.5-37.5%

In the release, Apple says it generated $9.9 billion in free cash flow, and returned $7.8 billion to shareholders through dividends and buybacks. It has spent $36 billion as part of its “capital return program”.

Other numbers:

  • iPhone ASP: $577 versus $581 in the June quarter and $613 in the March quarter.
  • iPad ASP: $439, versus $436 in the previous quarter.
  • Cash in hand: $146.8 billion.

We’re going to live blog the earnings call, which starts at 5 PM eastern. Those notes will be below. Here, in the meanwhile, are some charts on the iPhone and iPad:


iPhone Sales Quarterly