Tag - Earnings
Apple revenues fell by $11 billion year-over-year to $50.6 billion in its second 2016 fiscal quarter, reporting its first drop in quarterly revenue since 2003, the company has announced. The results missed consensus analyst estimates of $52.2 billion in revenue, though they fell within Apple's guidance of between $50 billion and $53 billion. Profits were $13.6 billion, while earnings per share was reported as $2.32, above estimates. Gross margin fell incrementally, from 40.1 percent to 39.4 percent over the same quarter last year.
Later today, Apple will posting its revenue and earnings for the company's fiscal second quarter of 2016, which ended on March 31. Following warnings from analysts and the company alike that 2016 would be a "tough compare" year following the iPhone 6 (since it was the first "phablet-sized" iPhone line, releasing much pent-up demand), the iPhone maker is expected to report its first year-over-year drop in revenues since 2003. Sales of the iPod, and later iPhone, buoyed the company's fortunes and pushed it to new quarterly records for the past 13 years.
At a "Town Hall" meeting with employees following the company's Q1 earnings report, Apple CEO Tim Cook reportedly rejected the notion -- long favored by analysts -- that Apple needs a "pared down" and inexpensive iPhone model in order to attract buyers in developing or "emerging" markets like India. While most of the meeting dealt with a rehash of information given during the analyst call, some was concerned with employee matters like retention incentives, as well as saying the Apple TV and tvOS both have "bright" futures.
Apple revenues rose by $1.3 billion year-over-year to $75.9 billion in its first 2016 fiscal quarter, which ended in December following the usual holiday rush, the company has announced. Profits were $18.4 billion, while earnings per share was reported as $3.28. The results failed to beat consensus analyst estimates of $77.4 billion in revenue, though they fell within Apple's guidance.
Wall Street analysts are heading into the quarterly results conference call for Apple's fiscal Q1 2016 results with an expectation that the company will once again set an all-time record for quarterly revenues, handily beating last year's $74.6 billion in earnings by a current consensus estimate of $2 billion. A polling of a broader range of analysts by Fortune magazine offers an even more rosy $77.4 billion, but many analysts are concerned that iPhone sales will not top last year's results of 74.5 million units.
Apple has announced that it will reveal its fiscal Q1 earnings on January 26 at 2PM PT (5PM ET) with its usual live audio webcast that is available for public streaming. The December quarter included the holiday buying season, but investors are worried that Apple will be unable to match last year's blockbuster $74.6 billion in revenue and $18.04 billion in revenue, which was the best quarterly earnings and profit any company has ever recorded. Last year's Christmas buying season was boosted by the introduction of the larger iPhone 6 line into China and the US.
Apple revenues rose 25 percent year-over-year to $51.5 billion in its fourth fiscal quarter, which ended in September with just a week or so of availability for its latest iPhones, the company has announced. Profits were up 30 percent to $11.1 billion, while earnings per share climbed from $1.42 to $1.96, a 38 percent increase. The results beat consensus analyst estimates of $51.11 billion in revenue. International sales jumped to 62 percent of revenue, fueled by strong growth in China.
A new forecast from analysts and a late prediction from investment firm Cowen and Company have combined to move the needle slightly upwards in terms of the optimism of guesses on Apple's earnings for its fiscal Q4 quarter, which will be reported later today (MacNN will, of course, have live coverage). Compared to a recent polling of analysts by Fortune magazine, the new consensus rises just over the top of Apple's guidance, now at $51 billion in revenue.
Another interesting week at MacNN brings us plenty to talk about on Episode 25 of The MacNN Podcast, ranging from the FCC approval of the AT&T/DirecTV deal for no clear reason (but with a bunch of conditions), to our new column "My Stupid Fault." We also include a full report on Apple's fiscal Q3 and the uncalled-for drop in the stock, the results of our testing of Apple's new third-party SSD Trim support, and more.
Last month, Apple announced that its financials for fiscal Q2 2015 would be released on April 27. Just one day before the conference call, analysts are rushing to get their predictions out regarding what is very likely to be another monster quarter for the company. The short version is that the iPhone will continue to drive the lion's share of revenue and grow sales from the year-ago quarter, while the downward pressure on earnings from the iPad will continue -- and nobody's really sure what's going to happen with the Apple Watch.
Now AAPL Stock: 100.35 ( -0.06 )
Trade-up program expands in Europe
Smartphone users in France, Italy, and Spain will have until at least August of this year to trade in old iPhone, Windows Phone, or Android models at Apple Stores, and put the reward towards a new iPhone -- thanks to an expansion of Apple's trade-in program into those countries. The money given for the trade-in must be applied towards a new iPhone on a two-year payment plane, and traders must qualify under a credit check as part of the program. Interested customers can apply for the trade-in at their nearest Apple Store. http://bit.ly/1qPsldD
NBCUniversal adds Bravo, Syfy, E! to Apple TV
NBCUniversal has launched three new apps channels for Apple TV users. Bravo Now, Syfy Now and E! Now brings users access full seasons of current and past episodes of most of NBCUniversal's catalog. The Bravo Now app includes shows like "The Real Housewives of New York Cit," "Below Deck Mediterranean," comedy "Odd Mom Out" and "Top Chef." The Syfy Now app offers up shows like "The Magicians," thriller "12 Monkeys" and the reality show "Face Off." The E! Now app serves up shows like "Keeping Up with the Kardashians," "Botched," "#RichKids of Beverly Hills," Caitlyn Jenner's "I Am Cait," and "WAGS." While some content is free, most content requires users to authenticate via their cable satellite or telco TV provider. http://bit.ly/20K4Pea
Apple rolls out Arabic version of Apple.com
Apple has rolled out a new version of its Apple.com website for Arabic language users in the United Arab Emirates. The site utilizes a right-to-left reading format where it has been updated, although the upgrade is still in progress with a number of page links still in the original English language left-to-right format. Of particular note is that the site debuts an all-new custom Arabic font created by the Tarek Atrissi Design agency, giving it a highly contemporary look and feel. The new support for Arabic on its host website follows the introduction of full support for right-to-left languages in iOS 9, and the addition of Arabic support to Siri late last year. http://apple.co/20JHGIM
Adobe previews Photoshop content-aware crop
Adobe has previewed a new 'content-aware crop' feature from the next version of its Photoshop CC. The new feature is similar to its 'content-aware fill' from the current version of Photoshop CC, and potentially saves users time when cropping photos in a way that might otherwise leave blank white space in the frame. Adobe's 'content-aware' tech automatically assesses the blank space and seamlessly fills the blank space with the nearest related content in the space when a photo is expanded or rotated without the need to manually clone that part of the image. The feature allows users to move a horizon by adding more sky or ground, change the aspect ratio by adding content around the edges of the image and fill in the corners of an image when rotated during a crop. Adobe says the feature is coming soon and will be automatically available to Creative Cloud subscribers. http://adobe.ly/20JDFEu
Markzware updates Q2ID for QuarkXPress 12 files
Graphic design file conversion tool maker Markzware has launched a new version of its Q2ID tool. The InDesign plugin enables users to open QuarkXPress files within a new InDesign (INDD) document, without rebuilding the QXP document from scratch -- the new version includes support for QuarkXPress 12 files. Q2ID Subscription members can download the new version as part of their annual plan. A single-user can purchase the plugin for $200, with other licensing options available. http://bit.ly/1Z4dS9t
PopChar X 7.5 arrives
Ergonis Software has released PopChar X 7.5, an improved version of the company's tool for finding and inserting special characters and exploring fonts. PopChar X 7.5 adds support for combined emojis in the Apple Color Emoji font, enhances the "Font Info" view, and adds many further enhancements that improve overall speed and stability. PopChar X 7.5 retails for €30 ($34), and is free for anyone who owns a license for PopChar X 7 or purchased a license for PopChar X 6 on or after March 1, 2014 [4.5MB]
Safari Technology Preview release 5 arrives