July 24 news, Apple today announced its fiscal 2013 third quarter report. Financial results show that the quarterly revenue of $ 35.3 billion apples, an increase of 1%, higher than the $ 35.18 billion expected; net profit of $ 6.9 billion, down 22%. The results exceeded market expectations, iPhone sales were strong.
Performance data
Margin: 36.9%; less than expected 37%.
iPad sales: 14.6 million, is expected to be 18.3 million; Mac sales: 3.8 million, is expected to 3,900,000; iPhone sales: 31.2 million, higher than the expected 26 million.
After the earnings release, Apple held the earnings conference call, Apple CEO Tim • Cook (Tim Cook) • and CFO Peter Oppenheimer (Peter Oppenheimer) and interpret the company to participate in the financial and operating performance, and answer questions from analysts .
The following is the main content of the conference call:
Decline in gross margin
Oppenheimer: We expect the gross margin of 36% -37%, we are about to enter a busy fall, will be in October this year to disclose more details.
Apple A1185 BatteryCook: iPad and iPhone inventory reduction, iPad in channel inventory dropped by 70 million units, we generally do not want to have too much inventory. Can be reduced, then it will reduce inventory.
Cook: new services and new products to become a major growth stimulus. In addition, we have a lot of opportunities, channels, retail and carrier partners. I personally do not agree with the high-end smart phones has peaked argument.
Calculated by year, iPad sales were down 2.4 million units, but only because 80% of channel inventory adjustments. Actual sales only fell by 3%. I got the latest data show that in the third quarter, iPad accounted share of tablet accelerated growth in network traffic, has now reached 84%. If there are other tablet in the sales, I do not know what they were used to doing it. We are very satisfied with the performance of the company. Our third-quarter performance in the U.S. education market is great.
Oppenheimer: Our company gross margin decline is not surprising. I was on a conference call earlier quarter, gross margin is expected to decline. During the quarter, the company gains and losses, and ultimately results in the expected range, but also in the expected range limit.
iPhone Performance
Oppenheimer: iPhone third-quarter prices fell by about $ 27, the price of 4%, mainly because of iPhone models diversification. iPhone 4 sales growth is very fast, because we are in emerging markets to provide more affordable options. iPhone price chain also saw a decline, which is also affected by iPhone models we sell a variety of effects.
Cook: iPhone in some very strong sales in emerging markets, an increase of 400 percent in India, Turkey and Poland, respectively, an increase of 60% in some developed regions market was also strong.
Apple A1148 BatteryGreater weakness in the third quarter. But revenue figures do not tell us the full story. If you look at sales figures, in fact, iPhone sales up in Greater China decreased by only 4%. While China iPhone sales rose 5 percent, the growth rate is lower than we expected, and I will be attributed to several factors. Obviously, we and some other mobile phone manufacturers have not benefited from a macroeconomic. In Hong Kong, we are more pronounced decline in sales, I still do not know the exact reason.
Trade promotion
Cook: We have not announced any trade activity, so we mostly hearsay. I think the reason why there is such a rumor, because the iPhone is still very attractive, very old iPhone preservation. May trade for consumers and manufacturers mean win. But we have yet to announce related programs.
Greater Performance
Cook: I think that the results of the Greater China region of great significance, it is necessary to explain in detail. In Greater China, Apple's third-quarter revenue of $ 4.9 billion, accounting for about 14% of total revenues. A few years ago, Apple's revenue in Greater China has only several hundred million dollars. In the past 12 months, the Greater China revenue reached $ 27 billion, which is a good result.
Third quarter, iPad sales in Greater China grew by 8%, sales in China grew by 37%. Data show that Apple's tablet in Greater China market share exceeds 50%. In addition, the Greater iOS application developers the number reached 500,000 tons, an increase of 70%.
Within the next two years, Apple will double the number of retail outlets in Greater China. iPad and iPhone sales in this region currently does not meet our expectations, it is necessary to perform even better. I think Apple will bring huge Greater opportunities. I will not be discouraged by the performance of 90 days.
iPhone 4
Cook: We see, for those first time smartphone users, iPhone 4 is still very attractive. This situation has occurred late in the second quarter. In this quarter, we offer numerous options more affordable price.
iPhone 5 is still the most popular iPhone models, but also very happy to have become the first to start iPhone 4 smartphone user's choice. In addition to iPhone 4, we have other weapons. We are still in the development of some of the products we are proud, once ready, will be launched.
Apple A1039 BatteryCarrier relationships
Cook: I would like to clarify one point, our relationship with carriers is very good. With Russia may be some media coverage about exaggerated. These reports, we do not sell through carriers iPhone. If you look at the situation in Russia, you will find 80% of the smart phone is sold through retail channels. We are very satisfied with our work now. We will continue to look for other operators to establish cooperative relations, on the one hand to increase the number of co-operators, on the other hand improve quality.
Supply Chain
Cook: NAND prices are very stable, as we expected, like that, prices are cyclical, but we expect LCD prices will fall further.
Revenue growth and new products
Cook: Apple's aim is to develop great products. If we focus on this, we can very well. I believe that the most important is that users love Apple products. Failing that, the product is likely to get customers.
Talk about the iPhone price
Cook: We do not predict prices, but will provide guidance data. In the third quarter, a lower-priced iPhone sales grew significantly, this product is the iPhone 4, it is still a great product. iPhone 5 also performed well in the promotion of these two products, iPhone actual sales exceeded expectations.
iOS into the car
Cook: iOS auto layout is very important, which is part of Apple's ecosystem, like iTunes, App Store, are part of this ecosystem, the car has a smart feature is very important, it is what consumers want , I think Apple can own unique way to achieve this goal.
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