Apple Q4 earnings: misses revenue targets, earns $6.62 billion in profit

Daniel Bader

October 18, 2011 4:47pm

The behemoth that is Apple keeps on rolling after the successful launch of the iPhone 4S, selling four million units in its first weekend.

Cupertino earned $7.05/ share, off analysts’ estimates of $7.28/share, with revenues at $28.3 billion, off from analysts’ $29.45 billion. Regardless of missed expectations, the company sold 17.07 million iPhones in the quarter, burying the rumour that sales would slide in anticipation of a new iPhone. This is a 21% rise over the previous year’s Q4.

Other sales numbers are as follows:

iPad: 11.2 million units, up 166% from a year ago.

Mac: 4.89 million units, up 26% from a year ago.

iPod: 6.62 million units, down 27% from a year ago.

The iPhone and iPad numbers are extraordinary, and the increase in iPhone sales more than make up the gross margin lost from decreased iPod sales. Cash and equivalents sit at a staggering $81.57 billion, with a gross margin of 40.3%. This is up from 36.9% last year. Profit for the quarter stands at $6.62 billion.

Arguments can be made that the delay of the iPhone 4S from its predictable summer release to its iPod-buffeting October release, plus the lack of a true iPhone 5, hurt Apple’s revenues somewhat. But these figures don’t take into account the millions of iPhone 4S’ sold last weekend, nor the upcoming holiday rush for cheaper products like iPods and Apple TVs.

  • hurrdurr

    Why would you get an iPad when you can get a Asus eee tablet.


    • DUD

      BE HAPPY.

  • Rio

    Yes we are the fanboys for buying the best selling tablet.

    • Tiago

      Its only the best selling tablet because your sheppard told you too buy one. If he had slapped an Apple sticker on a Samsung Galaxy Tab you’d go out and buy it. But then you’d be in awe at what an awesome OS Android is and that wouldn’t be fair to you

  • Chris

    Earnings depended on iphone 4, which is stale. Galaxy 2 was out since January, taking so much market share. Not sure why anyone is surprised.

    • Zomby

      I think you have your calendar months confused… the Galaxy S II was released in early june (late may in Korea) Heck the first announcement was made in february. Don’t know why you’d think it was out since january.

  • Derek

    Just wait til the Occupy Wall Street Crowd hears about this! Evil Apple taking advantage of the ‘working man’… Oh wait, seems I’ve seen a few iphones and ipads in the crowd shots… Oh well!

    • Dewey

      Just as many Bay St. broker dooshbags using iPads/iPhones if not more.

  • kenypowa

    First time in a decade that Apple missed revenue target but let’s be fair, it sold 4M iPhone 4S last weekend alone so to write Apple off is ridiculous.

  • Tracktor Pete

    Whenever I think of an IPhone, I immediately imagine an unkempt college student, who is thin beyond recognition, all due to his strict Ramen Noodle diet – a situation that he has put himself into after buying a shiny, overpriced toy…

    Damn, Apple, you scary!

    What do you imagine when you think of an IPhone?

  • Jamma

    LMAO I knew it was just a matter of time before this happened.
    Let’s see if the media will punish them like they did RIM.
    These poor excuses they were call for 21 million iphone and now they miss it’s OK they sold more than last quarter. SMH

  • Stuntman

    You know that the economy is not doing well when Apple misses its projected target by over a billion dollars.

  • zar

    You know the economy is doing better when Apple has 28 billion $ worth of revenue. That’s about 5% of Canada’s national debt – in one company’s revenue.

    Or maybe it’s actually doing worse because of that…hmmm!

    Economy is mind boggling sometimes.

  • Strawberry guy

    Well, I didn’t expect an better from dunces on MS. Apple missed ANALYST projections. They themselves projected 6.40 EPS, so it’s actually well above what they said. It seems like the only thing more dumb than analyst, are MS commenters.

  • Losers

    Mobilesyrup your a joke

  • Losers

    These numbers are good i****s

  • Losers

    Danny bader your a joke

  • Devon D.

    I don’t get it. I have a iPad and iPhone because it works together really well with my MacBook that I use for work that also became my everyday computer because it works. That’s it! I don’t get what joy Android users get slamming Apple produces. I mean, I (iOS user) think’s that the android OS is real good and solid and Have no need to talk trash about it, but at the end of the day I rather use iOS. Don’t get why this has to be a issue.

    • Peter

      Hear f*****g hear.
      You (Android users) like your phones, great. We (iOS users) like our phones, great. No leave us alone and f**k off.