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

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.

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