Apple Inc. that earnings slipped 8.5% in the fourth fiscal quarter
For the period ended Sept. 28, Apple said net income totaled $7.5 billion, or $8.26 per share, compared to net income of $8.2 billion, or $8.67 per share, for the same period last year Revenue grew 4% to $37.5 billion
Analysts were expecting earnings of $7.92 per share with revenue of $36.8 billion for the period, according to consensus estimates from FactSet
The company said it shipped 33.8 million iPhone units during the period; analysts were expecting about 32 million units shipped
The iPhone 5S and 5C launched in the final week of the quarter
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One possible interpretation - Apple has said they are giving more real realistic guidance, and current forecast implies sales growth of only 6.5% at the top end. Would be the lowest growth for the company in a December quarter since 2008, according to FactSet.
Cook says company will announce any changes to cash return program "in first part of the new calendar year." Looks like Icahn's not going to get an early Christmas present.
Cook says company completed 15 "strategic acquisitions" during the fiscal year. Not an area that Apple typically says much on.
"We're winning with our products in all the ways that are most important to us," Cook, subtly reminding investors that the company does not chase market share at the low end.
"We're winning with our products in all the ways that are most important to us," Cook, subtly reminding investors that the company does not chase market share at the low end.
Retail stores revenue up 6% year-over-year to $4.5 billion. Opened 8 new stores during the quarter. Total retail stores now 416.
Oppenheimer explaining revenue deferrals - Company is deferring more revenue per device sold given all the new free software. Sees deferred revenue increasing about $900 million in December quarter for "upgrade rights" related to software
NEW YORK (MarketWatch) - Archer Daniels Midland Co. ADM reported its third-quarter profit rose to $476 million, or 72 cents a share, from $182 million, or 28 cents a share, a year earlier. Adjusted to exclude LIFO credits and other items, the company earned 46 cents a share, down from 53 cents a share a year earlier. Revenue fell to $21.4 billion, from $21.8 billion a year earlier, the agriculture company said Tuesday. Analysts had expected adjusted earnings of 46 cents a share on revenue of $21.1 billion, according to FactSet. The firm cited strong performance in oilseed and corn products, despite lingering effects of last year's drought. Shares in Archer Daniels Midland were inactive in premarket trading
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