DailyTech - Apple Announces Record Q4 Earnings, Investors Aren't Impressed

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Hardware Apple Announces Record Q4 Earnings, Investors Aren't Impressed
Brandon Hill (Blog) - October 18, 2011 4:51 PM

33 comment(s) - last by inperfectdarkn.. on Oct 21 at 8:10 AM

Apple shares fall in after hours trading

Apple today reported revenue of $28.27B for the fourth quarter and $6.62B in net profit ($7.05 per diluted share). These numbers compare quite favorably to $20.34B and $4.31B ($4.64 per diluted share) for the same quarter last year.

Gross margins for Apple during Q4 were 40.3 percent.

During the quarter, Apple sold 17.07 million iPhones (21 percent growth year-over-year), 11.12 million iPads (166 percent growth), 4.89 million Mac computers (26 percent growth), and 6.62 million iPods (27 percent decline).

“We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,” said Tim Cook, Apple’s CEO. “Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.”

Speaking of the iPhone 4S, Apple announced yesterday that it sold over four million of the smartphones during its first weekend of availability -- this was over twice the number for the iPhone 4's initial rollout in 2010.

Despite the good news coming out Cupertino today, investors weren't too terribly impressed. Analysts were expecting revenue of $29.69B and earnings per share of $7.39. They also expected quarterly iPhones sales to be in the 18 million to 20 million range.

Apple shares are down over $26 in after hours trading.