Apple sells 27 million iPhones but misses profit forecast

Apple's earnings were up 23 per cent from last year but still fell below Wall Street expectations

Apple sold 27 million iPhones and 14 million iPads in the last quarter of 2012, swelling its revenue by 27 per cent, but its profits fell short of what analysts had been expecting.

Apple's net profit for the quarter, ended September 29, was $US8.2 billion, or $US8.67 per share, up sharply from $US6.6 billion, or $US7.05 per share, in the same quarter a year earlier, the company announced. That was below the analyst forecast of $US8.75 per share, according to a poll by Thomson Reuters. Revenue was $US35.97 billion, up from $US28.27 billion and slightly ahead of expectations.

Apple sold 58 per cent more iPhones than in the same quarter last year, while iPad shipments were up 26 per cent, it said.

Mac sales weren't so strong, growing 1 per cent to 4.9 million units, while iPod sales continued to decline, falling to 5.3 million, as more people relied on their smartphones to listen to music.

Despite missing Wall Street's earnings forecast, the revenue and profit were Apple's highest yet, and it announced a dividend of $US2.65 per share for its stockholders.

"We're very proud to end a fantastic fiscal year with record September quarter results," CEO Tim Cook said in a statement.

This was the fourth quarter of Apple's fiscal year. For the first quarter, it expects revenue of about $US52 billion and earnings per share of $US11.75, the company said. Those numbers are below the current analyst forecast, which calls for $US54.98 billion in revenue and profit of $US15.41 per share.

James Niccolai covers data centers and general technology news for IDG News Service. Follow James on Twitter at @jniccolai. James's e-mail address is james_niccolai@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesmac laptopshardware systemsiPhonedesktop pcstabletslaptopsfinancial resultsiPadMac desktopsAppleconsumer electronicssmartphones

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

James Niccolai

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?