) after-market earnings report Monday on the comapny's fiscal 1st
quarter of 2014, many numbers came up short of estimates.
However, the world's largest tech company reported diluted
earnings per share (EPS) before non-recurring items of $14.50,
which was a significant beat of Zacks Consensus Estimate
expectations of $14.04 per share.
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But revenues missed the Zacks Consensus of $57,735 million for
the December quarter -- including the all-important holiday
season -- when it reported $57.6 billion in quarterly sales.
iPhones in particular sold 5 million or so units fewer than
expected. Macs and iPads did slightly better than expected, but
iPhones make up over half of Apple's sales. Guidance was also
below expectations -- $42-44 billion for the company's Q2 March
That said, Apple continues to set new records with its sales
numbers, including new highs in iPhone and iPad revenues. Year
over year, earnings are up 5%. A new $3.05 cash dividend has been
declared for investors holding Apple stock as of February 10,
2014, and the company's net profit for the quarter was $13.1
CEO Tim Cook promises to "invest heavily in our future" -- likely
meaning new products at some point this year and/or next (and
honestly, it does make sense that new innovations should be
forthcoming... doesn't it? I mean, this is Apple). The conference
call will commence shortly, and perhaps many questions investors
still have about Apple will be satisfied by the end of it.
For instance, what of the fate of the cheaper 5c iPhone? Will it
go away in the U.S. market, as some have predicted? Will we get
some details about Apple's partnership with
)? It's clear Carl Icahn's getting his way at least a little bit
with a new dividend issuance, but can we expect a guy like that
to remain in silent reverence of Cook's decisions going forward?
In other words, there are roughly about as many questions as you
can shake 51 million iPhones at.
On the bottom line, Apple produced a 3.3% positive surprise for
its holiday quarter. This is generally in line with what we've
seen from Apple in recent quarters, but investors have yet to be
impressed of late. It's the main reason AAPL shares have fallen
6% in the after market Monday, after trading down slightly year