Apple, Netflix Report Earnings on the Same Day
iPhone miss accounted for most of Apple's shortfall.
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.
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