Apple tops analysts’ forecasts for fourth quarter

Written By Unknown on Selasa, 21 Oktober 2014 | 18.18

Apple ended its fiscal year stronger than ever, according to CEO Tim Cook.

Apple topped analysts' forecasts for its fiscal fourth quarter Monday, with alltime sales records for both iPhones and Macs.

Cook said the quarter capped a year "for the record books" as the company heads into the holidays with "Apple's strongest product lineup ever."

iPhone sales benefitted from the recent launch of the iPhone 6 and 6 Plus to total 39.3 million units — up 11.6 percent from the year-earlier quarter.

Mac sales came in at 5.5 million units — up 25.1 percent for the back-to-school quarter.

Apple's quarterly revenue of $42.1 billion represented an increase from the year-earlier quarter of 12.4 percent and beat the $39.9 billion consensus among analysts.

Net income rose 12.7 percent, to $8.5 billion, whereas earnings per share jumped 20.3 percent, on a diluted basis, to $1.42.

The growth discrepancies between net income and EPS reflects Apple's unprecedented share
buyback program.

Share repurchases totaled $17 billion during the quarter and $45 billion for the fiscal year, thus reducing the number of outstanding shares by 6.2 percent during the year.

For its next fiscal quarter, Apple raised revenue guidance to between $63.5 billion and $66.5 billion, which is above Street estimates and was enough to send the stock up 1.5 percent, to $101.26 per share, in after-market trading.

Cook attributed the unusually wide guidance range to a supply-demand imbalance for iPhones.
"It's not clear when supply will catch up to demand," he said of the enviable situation caused by unbridled iPhone demand. "We're not close [to supply-demand balance]. We're not on the same planet."

Despite an active year for product launches, which often eat into margins, Apple performed well there, too.

Its gross margin was 38 percent in the quarter — versus 37 percent a year ago — and guidance set it as high as 38.5 percent next quarter.

Cantor Fitzgerald analyst Brian White wrote an update that Apple appears to be in another "super cycle," citing such new products as an Apple Watch in in early 2015 and just-launched Apply Pay.


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