Apple has just released its fiscal Q3 2013 earnings, reporting $57.6 billion in revenue, $13.1 billion in net profit representing $14.50 per share. Compared to the year-ago quarter, it corresponds to a growth of 5.7 percent in revenu, and 5 percent in EPS, with net profit flat year over year.
According to Fortune, the consensus among analysts was for Apple to report earnings of $14.36 per share on $58.1 billion in revenue, with both revenue and EPS growing. The WSJ expected $57.46 billion in revenue and $12.68 billion in profit, this time with profit down 3 percent year over year.
Despite an all-time high in sales, revenue is below the street’s expectations. On the other hand, EPS is above expectations with flat profit.
As a reminder, Apple reported $37.5 billion in revenue, $7.5 billion in profit representing earnings of $8.26 per share.
Guidance from its last earnings release forecasted between $55 billion and $58 billion in revenue, with gross margin between 36.5 percent and 37.5 percent. Over the past three quarters, Apple’s own guidance has been much more accurate, with the upper end of the forecast very close to what it actually reported.
Developing…
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