Apple's ($AAPL) Q3 numbers are in, with $37.4B in revenues and $1.28 per share in earnings with the former just missing analysts' target of $38B and the latter besting analysts' $1.23 estimate. Apple sold 35.2 million iPhones in the quarter, up 13% year over year, with an impressive 55% increase in BRIC countries. Impressive iPhone numbers and even more impressive Mac numbers (4.4 million) were tampered by lackluster iPad sales, which checked in at 13.3 million. On the conference call, Apple CEO Tim Cook proclaimed “no worries” on the iPad numbers, and offered a number of optimistic points on the iPad; the partnership with IBM, a move to enterprise, customer satisfaction, its uptake in China, and a continued belief that tablets will overtake PC in total units sold “soon”. Still, it seems that at least here in the U.S., consumers are less likely to upgrade their iPads or leave their laptops behind fast enough to make the numbers move the way the Cupertino bean counters likely want them to.
Finally, Apple now has $164.5B in cash. That's “B” as in billion. Just sitting there (well, over there to be more accurate, as only about $26B is being held domestically).
- Revenues: $37.43B versus $38B analysts' estimate. Up 6% year over year.
- Earnings per share: $1.28 versus $1.23 analysts' estimate. Up 20% year over year.
- iPhone units: 35.2M versus 35.3M analysts' estimate. Up 13% year over year.
- iPad units: 13.3M versus 13.8M analysts' estimate. Down 9% year over year.
- Mac sales: 4.4M versus 3.9M analysts' estimate. Up 18% year over year.
- iPod units: 2.9M versus 2.3M analysts' estimate. Down 36% year over year.