Will Apple Revenues show the first Decrease this Quarter since 2002

Apple results, for their Q3 2013 were released last night around 9.30 pm BST followed fairly rapidly by their Conference Call at 10pm BST (2pm PST).

ROUNDUP am July 24

 From Apple:

 From elsewhere:

 Instant analyst opinions/headlines:

UPDATE July 23 – 9.45pm BST – Results announced:

  • Revenues $35.3 bn
  • EPS $7.47
  • Unit sales millions Macs  3.8, iPods 4.6 iPhones 31.2, iPads 14.6
  • Guidance Q 4 Revenues $34 – $37 Gross margin 36% -37%
  • Share price after hours + 4.6% @ $438 ish (Formal close was at $418.99)


Updated scheduleWe will likely do a roundup of tyhe results and initial comments tomorrow. Apple just managed to show a year on year revenue increase but they are flatlining!

Original post July 23 am

The, sort of, headline figures to look out for we think are:

  • If their revenues are less than $35 bn this will be the first year on year quarterly decrease we think since Q4 of 2002!
  • Quarter 3 results consensus Revenues / Earnings per share – $34.1 bn / $7.29
  • Quarter 4 mid guidance  consensus Revenues / Earnings per share – $37.2 bn / $7.87
  • The share price continues it’s comparative weakness and closed yesterdays at $426.31  well down from its peak of just over $700 in mid September last year

The source of much of our information is Philip Elmer-Dewitt editor of Apple 2.0 to whom we, and likely many others are indebted. We’ve collated certain of his information and apologise lest we have miscompiled in any way!

Click to enlarge

Our normal graphic uses simple averages (mean) for the Professional (blue) and Independent (green) figures together with the mid guidance information from Apple. We also add our guesses. We’re going a bit low on some of these. 

We will in particular to see if our revenue flatlining prediction continues.

We will report back later after the results are released and the Conference call has taken place. Usually the Q & A session adds value. We shall see, or rather hear, if this continues to be the case!

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