Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Apple, Netflix Report Earnings on the Same Day

By

iPhone miss accounted for most of Apple's shortfall.

PrintPRINT
MINYANVILLE ORIGINAL Apple (AAPL) had a significant iPhone miss, shipping just 26 million units vs. the 28.4 million units analysts expected. According to some quick math, iPhone weakness accounted for $1.5 billion, or 67%, of the $2.2 billion revenue shortfall. The rest of the miss can be accounted for in the Mac line and retail.

Apple missed earnings at $9.32 vs. the $10.37 estimate and revenues at $35.02 billion vs. the $37.25 billion estimate. Guidance was miserable with 4Q earnings per share at $7.65 vs. the estimated $10.27 and revenues at $34 billion versus the estimated $38.01 billion. Margins missed at 42.8% versus the 43.8% estimate.

iPod shipments were down 10%, but still ahead of estimates. iPhone units were at 26 million vs. the 28.4 million estimated. iPad units were at 17 million units vs. the 15.4 million estimated. Mac units were at 4 million versus the 4.3 million estimated.

The stock is down $40 to $565.

Meanwhile, Netflix (NFLX) was down $10 after hours as its new subscriber growth was weaker than expected, despite an overall decent quarter. Maybe Reed Hastings shouldn't have teased investors with that July 3 Facebook announcement that monthly viewing hours had crossed the one billion mark for the first time -- a revelation that sent the stock up 13% the next day.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE