Apple has posted its earnings for Q4 2013, which shows a dip in the company's profit but the results managed to beat Wall Streets' estimates.
On Monday, October 28, Apple announced that quarterly revenue for the quarter ended September 28, was $37.5 billion and quarterly net profit of the company was $7.5 billion, or $8.26 per share. When compared to Q4 2012, the company posted revenue of $36 billion and net profit of $8.2 billion, or $8.67 per share. Gross margin was 37 percent when compared to 40 percent in the same period of 2012. Apple also announced that international sales of its products accounted for 60 percent of revenue for the quarter.
Though profit slipped, the company's earnings beat Wall Street estimates. Analysts had predicted Apple would post a revenue of $36.8 billion and earnings of $7.92 per share for Q4 2013.
"We're pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones," said Tim Cook, Apple's CEO. "We're excited to go into the holidays with our new iPhone 5c and iPhone 5s, iOS 7, the new iPad mini with Retina Display and the incredibly thin and light iPad Air, new MacBook Pros, the radical new Mac Pro, OS X Mavericks and the next generation iWork and iLife apps for OS X and iOS."
The sales of iPhones - 33.8 million units - also beat forecast as analysts' predictions suggested Apple would sell around 32 million iPhones during the quarter. Apple launched its latest iPhone 5s and the budget iPhone 5c in the last week of the quarter and the company reported that it had shipped 9 million units of the two new iPhone variants during the launch weekend itself.
Shipment for total iPads during Q4 2013 was 14.1 million, which is slightly lower than the forecast of 14.5 million units. Rumors of new iPads to be launched in October had probably stopped many potential buyers from purchasing the existing tablets. Apple launched the iPad Air and the iPad mini 2 (with Retina display) in October, which will hit the shelves in November this year.
Apple's share rose by $3.92, or 0.74 percent, to $529.88 in regular trading on Monday.
