Tuesday, July 24, 2012

Apple's Q3 earnings disappoint analysts; $35.2 billion in revenue and 17 million iPads, 26 million iPhones sold

No doubt Business Insider and much of the tech press will be having a field day this afternoon, now that Apple has released its Q3 earnings. It turns out that the "analysts" and the tech folk wanted more.

Let's look at the numbers:

Apple earned a quarterly profit of $8.8 billion versus $7.31 billion a year ago. Revenue rose to $35.2 billion versus $28.7 billion a year ago.

Of course, all this is bad news so the stock is getting hammered.

Now I know all about expectations, but who sets those expectations? Apple? No, of course not, Apple beat its own guidance. No, its those "analysts" again.

As for iPad sales, they hit another all time high, somewhere around 17 million (I'll update with the real number once Apple releases their statement). That makes over 84 million iPads in the market – minus, I suspect, the one Jeff Jarvis sent back.

2010 Q3 3,270,000
2010 Q4 4,188,000
2011 Q1 7,331,000
2011 Q2 4,694,000
2011 Q3 9,246,000
2011 Q4 11,123,000
2012 Q1 15,434,000
2012 Q2 11,800,000
2012 Q3 17,042,000

Total units = 84,128,000
The real news from the earnings call is that Apple will begin shipping Mountain Lion tomorrow. For owners of an Apple TV, the nice new feature is that you can now mirror your Mac to your Apple TV just as you can your iPad or iPhone.