Apple has beaten estimates 30 quarters in a row. So this number is a shocker: $7.05 vs $7.28 estimate. More shocked, they missed on the top line - $28.3B vs $29.45B.
Stock is down $25 as I write this, or about 6%.
In a George Costanza moment, this company which is infamous for low balling guidance actually is guiding over consensus for next quarter: $9.30 EPS vs analysts $8.98 (Revenue $37B v $36.6B).
Again this is all about expectation - for a company of this size, such growth is simply jaw dropping. Margins expanded nicely year over year, revenue and EPS growth year over year (for a company this size) awesome, and international sales now almost 2/3rds of sales.
Based on the metrics, the iPhone sales were the big issue. CFO blames pervasive rumors of iPhone5 keeping customers from purchasing, but says the 4S response has been off the charts.(per Seeking Alpha)
Full report here.
iPhone 4 shipments 17.07 million up 21% year/year. (some estimates of 20M here, could be people waiting for 4S)
iPad shipments 11.1 million up 166% year/year. (this one appears to have come in a bit light)
iPod sales were 6.62 million, down 27% year/year
Mac shipments were 4.89 million up 26% year/year