Michal Ždanský Apple Lossless Audio CODEC (ALAC), he announced financial results for the third fiscal quarter of 2013, in which it had revenues of $35,3 billion with a net profit of $6,9 billion. The difference between this year's third quarter and last year's is minimal, only 300 million, but profits have decreased significantly, by 1,9 billion, which is mainly due to the lower average margin (36,9 percent against 42,8 percent from last year). The decline in profits is almost the same as last quarter.
In the quarter ended June 29, 2013, Apple sold 31,2 million iPhones, which is a fairly decent increase from last year's 26 million, or 20 percent, as well as significantly higher than the year-over-year difference of last quarter, where the increase was only 8%.
iPads, Apple's second-strongest product, saw an unexpected decline, down 14 percent from last year with 14,6 million units sold. So it's the first time in the company's history that tablet sales have seen a decline instead of an increase. Even Macs fared less well this quarter. Apple sold a total of 3,8 million PCs, down 200 or 000% year-on-year, but still a good result, the average decline across the PC segment was 7%. What's strange is that Apple didn't announce iPod sales at all in the press release, but music players shipped 11 million units (a 4,57% year-over-year decline) and accounted for only two percent of total revenue. The opposite trend was recorded by iTunes, where revenues increased year-on-year from 32 billion to 3,2 billion US dollars.
Apple's profit has already decreased year-on-year for the second time in ten years (the first time was last quarter). This is no surprise, as customers have been waiting for a new product for three quarters of a year. The new iPhones and iPads will be introduced in the fall, and the new Mac Pro hasn't even gone on sale yet. The company added another $7,8 billion to its cash flow, so Apple currently has $146,6 billion, of which $106 billion is outside the US. Apple will also pay out $18,8 billion to shareholders in a share buyback. The dividend per share is unchanged from last quarter - Apple will pay out $3,05 per share.
"We are particularly proud of record iPhone sales during the June quarter, which exceeded 31 million units, as well as strong revenue growth from iTunes, software and services." said Tim Cook, the company's chief executive, in a press release. "We're very excited about the upcoming releases of iOS 7 and OS X Mavericks, and we're firmly focused on some amazing new products that we'll be introducing in the fall and throughout 2014, and that we're working hard on."
The lowest profit since Q4/2011, shareholders will not be happy. They announced it quite late in the evening, so the stock will start falling the next day. It was to be expected with those iPads, since they didn't release new ones in March and many people are waiting for a new model. iMac, macbook pro and even mac mini could already have new processors and graphics. People are already waiting for new models.
Shares today +5,5%
You have an error in the text and graph regarding iPad sales, 14,6 million sold, see press release.
"Apple thus has more than 150 billion dollars in cash at its disposal, of which more than half is outside the US." ... Does Apple really have such an amount stored in physical banknotes somewhere in a safe deposit box?
he mostly has them in bank accounts and bonds
Well right! And it's not cash. Even the idea of Uncle Skrblik's safe is nice. :O)