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Stronger than expected Apple iPhone sales help Apple top Q3 earnings estimate

Posted: , by Alan F.

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Stronger than expected Apple iPhone sales help Apple top Q3 earnings estimate
Surprising Wall Street with a strong quarter of Apple iPhone sales, Apple reported stronger than expected fiscal third quarter earnings leading to a 4% pop in after-hours trading on Tuesday. Apple sold 31.2 million units of the iPhone, topping estimates of 26.5 million phones that analysts had expected Apple to report. Last quarter, Apple sold 37.4 million units of its iconic smartphone, while last year it sold 26 million in the same period. After-hours, Apple's shares are up $21.80 to $440.79 after dropping over $7 during regular trading hours.

While analysts had expected Apple to sell 18 million units of the Apple iPad in Q3, Apple actually rang up sales of 14.6 million tablets. That was down sequentially from the 19.5 million sold last quarter and down from the 17 million it sold last year during the same three month period.

For the quarter, Apple reported a profit of $6.9 billion or $7.47 a share. That topped an estimate of Wall Street analysts by 15 cents a share. Last year, the company reported third quarter profits of  $8.8 billion or $9.32 a share. Revenue came in at $35.3 billion for 2013, up from $35 billion last year. Apple forecast that it will produce revenue in the range of $34 billion to $37 billion for the fiscal fourth quarter. Analysts expect Apple to report $37 billion in revenue for the period.

Apple CEO Tim Cook once again hinted at a Apple iWatch when he mentioned that new products are on the way. "We are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014," said Cook after Apple reported its earnings. Apple recently filed to trademark the iWatch name in various countries. A recent report stated that an Apple iWatch release has been delayed as Apple has hired more engineers to help them get to the next level in designing the product.

Apple's recent earnings reports

Apple's recent earnings reports


source: WSJ

46 Comments
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posted on 23 Jul 2013, 16:39 9

1. Ninetysix (Posts: 2460; Member since: 08 Oct 2012)


Good job Apple. Make it more interesting next quarter. Competition = good for us consumers.

posted on 23 Jul 2013, 18:16 4

10. darkkjedii (Posts: 22065; Member since: 05 Feb 2011)


Agreed 100%

posted on 23 Jul 2013, 17:00 1

2. karim77 (Posts: 70; Member since: 10 Dec 2012)


Well, this is surprisingly weird

posted on 23 Jul 2013, 18:48 1

17. darkkjedii (Posts: 22065; Member since: 05 Feb 2011)


How's it weird?

posted on 23 Jul 2013, 21:34

37. joey_sfb (Posts: 6015; Member since: 29 Mar 2012)


It's not surprising that still plenty of Apple fans around the globe. Their unwavering devotion is almost religious!

I can't bad mouth Apple products they would crucify you if they could.

Common sense is rare unless it's serve to glorify their Apple love and ego.

posted on 23 Jul 2013, 17:17 2

3. Johnnokia (Posts: 1104; Member since: 27 May 2012)


Q3 2010 Nokia revenue was 43 $Billion..... ِِِAnd now it is only 7.5 $Billion ... Really sad.

posted on 23 Jul 2013, 18:09 1

7. smallworld (Posts: 488; Member since: 13 Jul 2012)


43 Billion... in one quarter... Nokia...

I don't think sooo

posted on 23 Jul 2013, 20:35 1

30. mctcm (Posts: 204; Member since: 19 Oct 2011)


Um, no. They did 10.3 bln euro's in 3Q10 which is no more than 14.5-15.5bln USD, depending on the FX conversion which I can't be bothered to look up.

posted on 23 Jul 2013, 17:24 1

4. Googler (Posts: 813; Member since: 10 Jun 2013)


Eyes should be on the upcoming iPhone sales, it makes up close to 50% of total Apple profit. Any word on what impacted the $2 billion profit drop?

posted on 23 Jul 2013, 19:46

21. greathero1 (Posts: 566; Member since: 13 Jun 2008)


Probably iPad sales. They were lower this go around.

posted on 23 Jul 2013, 20:09

26. Googler (Posts: 813; Member since: 10 Jun 2013)


It would be interesting to know the stats on how the Mini impacted profits when compared to sales.

posted on 23 Jul 2013, 18:05 9

5. livyatan (Posts: 867; Member since: 19 Jun 2013)


Apple profit -6.9 billion
Samsung profit - 8.5 billion

posted on 23 Jul 2013, 18:09 3

6. christianqwerty (Posts: 467; Member since: 05 May 2011)


iPhone vs galaxy s4, s4 activ, s4 mini, galaxy zoom, galaxy core, galaxy express, galaxy steller, samsung activ odessy, Samsung lightray, samsung stratosphere , ECT.......

posted on 23 Jul 2013, 18:40 12

13. tedkord (Posts: 12272; Member since: 17 Jun 2009)


Ok then...

IPhone 5 Q2 sales - 22 million
Galaxy S4 Q2 sales - 23 million

Good enough?

posted on 23 Jul 2013, 19:44 6

20. greathero1 (Posts: 566; Member since: 13 Jun 2008)


Not really. 10 month old phone at the end of its life cycle vs brand new product. I say, not bad. Kudos to both for racking up great numbers.

posted on 23 Jul 2013, 19:58 1

24. darkkjedii (Posts: 22065; Member since: 05 Feb 2011)


Best post out the bunch. +1

posted on 23 Jul 2013, 20:11 5

27. Googler (Posts: 813; Member since: 10 Jun 2013)


Apple is still selling the iPhone 4, how is the 5 near the end of it's life cycle?

posted on 23 Jul 2013, 22:17 1

40. willard12 (Posts: 1722; Member since: 04 Jul 2012)


In all fairness they are only selling the iphone 4 until next month....before the ITC bans it for copying.

posted on 23 Jul 2013, 20:01 1

25. darkkjedii (Posts: 22065; Member since: 05 Feb 2011)


Ted, since when did you get into this who sold most thing? That's fanboy stuff dude, you've always struck me as a techie.

posted on 23 Jul 2013, 20:48 1

32. tedkord (Posts: 12272; Member since: 17 Jun 2009)


I don't care who sells what. I was just correcting what someone said.

posted on 23 Jul 2013, 21:08

36. darkkjedii (Posts: 22065; Member since: 05 Feb 2011)


Oh ok

posted on 23 Jul 2013, 19:41 2

19. greathero1 (Posts: 566; Member since: 13 Jun 2008)


Don't concentrate so much on phones. Samsungs other business had a big impact on their profit as well. TVs, appliances, etc.

posted on 24 Jul 2013, 08:27

44. designerfx (Posts: 76; Member since: 26 Mar 2013)


means nothing. you're distracting from the reality of : apple's profits going down (having reached a plateau already).

Apple *does* have to compete against all of those. That's what competition is.

posted on 23 Jul 2013, 18:13 3

8. verbalize (Posts: 126; Member since: 03 May 2013)


Who said the High-end smartphone Industry is saturated? Good going Apple. When you have a great product people will buy it. With Samsung's poor phone sales this last quarter they better pick up their game or they're going down the drain.

posted on 23 Jul 2013, 18:43 9

14. tedkord (Posts: 12272; Member since: 17 Jun 2009)


Poor sales? They sold more than twice as many smartphones as Apple, the GS4 outsold the iPhone 5, and they had a record quarter with more profit than Apple.

We should all do so poorly.

posted on 23 Jul 2013, 19:35 7

18. Jason2k13 (Posts: 1217; Member since: 28 Mar 2013)


i dont remember any of samsungs high-end phone having poor sales? Even their low and mid phones sells more than any other manufacturers in that category.

posted on 23 Jul 2013, 19:53

23. stealthd (unregistered)


S4 didn't sell BAD, but it was below expectations

posted on 23 Jul 2013, 20:50 1

33. tedkord (Posts: 12272; Member since: 17 Jun 2009)


It sold 20 millIon in two months. That's just not bad? It looks like it outsold the iPhone 5 for the quarter, and it only had two months of the three while the iPhone had all three.

posted on 23 Jul 2013, 22:14 1

39. verbalize (Posts: 126; Member since: 03 May 2013)


And the IPhone is almost a year old. Then you have the SG4 that's been out for 11 weeks and they sold less phone of it in the same period. The SG4 is already Discounted for $99 with contract. Can't be selling Too we'll if they are almost giving it away with contract. LOL

posted on 23 Jul 2013, 22:26 2

41. tedkord (Posts: 12272; Member since: 17 Jun 2009)


I'll repeat it. 20 million in two months. If that's not selling well, nothing sells well.

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