Apple on Monday topped Wall Street estimates as they reported revenue of $37.5 billion for the fourth quarter of their 2013 fiscal year. The figure is up from $35.97 billion during the same period last year and beat Apple’s own estimates of roughly $37 billion.
Net income for the quarter was $7.51 billion, or $8.26 per share. That’s down from $8.22 billion, or $8.67 a share, a year ago but still beat analysts’ average estimates of $7.96 per share based on revenue of $36.9 billion.
Sales of iPhones fell below analysts’ forecasts of 34.5 million with 33.8 million sold in the quarter despite launching two new models, the iPhone 5s and the 5c, for the first time ever. Elsewhere, Cupertino sold 14.1 million iPads, 4.6 million Macs and 3.5 million iPods during the three-month period.
It’s worth mentioning that only the new iPhones were included in the quarterly report which happened to arrive at the end of the quarter. Other new products like the second generation iPad mini with Retina display, the iPad Air, new MacBook Pros and the Mac Pro will all be part of Apple’s next quarterly earnings report which runs through December.
Looking forward, Apple said they expect to generate sales of between $55 billion to $58 billion which falls in line with average analyst expectations of $55.7 billion. Additionally, Apple announced a $3.05 per share dividend that will be made available to shareholders on November 14.
The Apple iPhone 5 is the latest flagship smartphone from Apple. The iPhone 5 features a 4-inch display retains the same 326 PPI density as its predecessor with an effective resolution of 1,126 x 640, and a new Lightning connector. The new handset now features 802.11a/b/g/n Wi-Fi with 802.11n supporting dual-band 2.4GHz and 5GHz frequencies. Bluetooth 4.0 is back in addition to GPS and GLONASS for location services.
The iPhone 5C replaces the iPhone 5 with nearly identical tech specs, a plastic-based exterior and 5 color choices, a first in the iPhone family. The 5C features the same 4" Retina display, A6 CPU, 8-megapixel rear iSight camera, a new front-facing FaceTime HD camera with better low light support, dual-band Wi-Fi a/b/g/n, Bluetooth 4.0, a higher capacity battery and support for more LTE bands.
The iPhone 5s is the Apple’s latest flagship handset. The iPhone 5s is powered by a first of its kind 64-bit A7 processor and the same 4" Retina display as its predecessor. It also includes a fingerprint reader dubbed Touch ID, HD video capture at 720p at 120FPS that can also perform slow motion at 120FPS. Battery life on the iPhone 5s is rated for 10 hours of 3G talk time, LTE browsing, Wi-Fi browsing and video.
The iPad mini is a smaller version of the iPad and it’s much more than just a shrunken-down iPad. The iPad Mini packs a dual-core A5 processor, dual-band 802.11a/b/g/n Wi-Fi, a FaceTime HD camera, 5-megapixel rear iSight camera with 1080p recording and an optional LTE radio. The Mini sports a 7.9-inch display and 1,024 x 768 resolution. Battery life is estimated at 10 hours.
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