Apple changes revenue deferral to accommodate iCloud
updated 05:45 pm EDT, Tue July 19, 2011
EPS guidance low due to "product transition"
During Apple's quarterly financial conference call, CFO Peter Oppenheimer announced that the company has changed its accounting rules to accommodate new services such as iCloud. The cloud-based services are said to be worth approximately $22, requiring the company to defer $22 in revenue for each Mac sold from June on.
Users will still have to pay for major software updates on the company's range of products, with revenue deferred for three years. As of June 6, $15 of revenue will be deferred for each iPhone and iPad, and $11 will be deferred for each iPod touch.
Executives also hinted that its low EPS guidance for the September quarter is partly due to a "product transition," though the company is not yet willing to provide further details. A new iPhone is expected to arrive, while recent rumors also point to a new MacBook Air or Mac mini.
