Apple fourth quarter earnings conference call (live blog) | CNET

Apple fourth quarter earnings conference call (live blog)

Join CNET for live coverage of Apple's fourth fiscal quarter conference call.

  • Josh Lowensohn 10/25/2012 8:53:38 PM
    Hey everyone. Got another 5 minutes or so until the call starts. In the meantime, you can get the rundown on the results with the links above
  • Roger Cheng 10/25/2012 8:54:33 PM
    Hey, it's Roger Cheng, executive editor at CNET News. I'll be riding shotgun with Josh on this live blog.
  • Josh Lowensohn 10/25/2012 8:59:59 PM
    Annnnd here we go.
  • Josh Lowensohn 10/25/2012 9:00:23 PM
    Just kidding, there's more classical music to listen to on the line.
  • Roger Cheng 10/25/2012 9:00:56 PM
    Okay, the operator is starting things up. Here we go.
  • Josh Lowensohn 10/25/2012 9:01:43 PM
    Okay, for real this time. Getting an intro from Apple's Nancy Paxton who's introducing

    Peter Oppenheimer - Apple’s chief financial officer
    Tim Cook - Apple’s chief executive officer
    Gary Wipfler - Apple's treasurer
  • Josh Lowensohn 10/25/2012 9:02:36 PM
    Oppenheimer says hello, going over the results. New records for iPad and Mac sales for the quarter. Including $36b revenue tally.
  • Josh Lowensohn 10/25/2012 9:03:03 PM
    Margin was $10.9b and EPS of $8.67.
  • Josh Lowensohn 10/25/2012 9:03:11 PM
    First up Mac: 4.9M macs -- a new record.
  • Josh Lowensohn 10/25/2012 9:03:39 PM
    1 percent YoY growth, Oppenheimer says, bringing up general slide in PC sales. Portables were up 9 percent, and made up 80 percent of the sales based on Air and Pro.
  • Josh Lowensohn 10/25/2012 9:03:57 PM
    Oppenheimer brings up new iMac design, as well as the 13-inch Retina MacBook Pro.
  • Josh Lowensohn 10/25/2012 9:04:09 PM
    3-4 weeks of Mac channel inventory, which Oppenheimer says is below 4-5 week range.
  • Roger Cheng 10/25/2012 9:04:28 PM
    iPod Touch continues to account for more than half of iPods sold, Oppenheimer says.
  • Roger Cheng 10/25/2012 9:04:41 PM
    The iPod continues to be the most popular Mp3 players in the world, he says.
  • Roger Cheng 10/25/2012 9:05:03 PM
    The iPod Touch is the slimmest iPod Touch yet. Oppenheimer goes through the details.
  • Roger Cheng 10/25/2012 9:05:17 PM
    Full range of iPods will make wonderful gifts this holiday season, he says.
  • Roger Cheng 10/25/2012 9:05:46 PM
    We look forward to launching the new iTunes, with new player, iCloud integration, user interface, Oppenheimer says.
  • Josh Lowensohn 10/25/2012 9:05:58 PM
    Now onto iPhone: 26.9M iPhones.
  • Josh Lowensohn 10/25/2012 9:06:28 PM
    Up 58 year over year in terms of growth for the quarter. iPhone 5 launched Sept 21, "demand has been phenomenal" Oppenheimer says.
  • Josh Lowensohn 10/25/2012 9:07:18 PM
    Demand has outstripped supply he says. Company has 9.1M iPhones in inventory.

    iPhone rev was $17.1B compared to $11B the same quarter a year ago.
  • Josh Lowensohn 10/25/2012 9:07:57 PM
    iPhone in business: Oppenheimer going over a handful of companies using iPhones in business including Amtrak for ticketing by phone.
  • Josh Lowensohn 10/25/2012 9:08:34 PM
    Oppenheimer says the iPhone "revolutionizes" the process they were using before. Oppenheimer moves onto news, including BBC and WSJ that use the iPhone for broadcast on TV and Web streaming.
  • Roger Cheng 10/25/2012 9:08:47 PM
    Pleased with 14M iPads sold in the quarter, an increase of 26% from a year ago.
  • Roger Cheng 10/25/2012 9:08:54 PM
    iPad sales were ahead of our expectations, he says.
  • Roger Cheng 10/25/2012 9:09:14 PM
    Oppenheimer talks about newly unveiled iPad Mini, fourth-generation iPad.
  • Roger Cheng 10/25/2012 9:09:30 PM
    Together with iPad 2, these two iPads run 275,000 apps.
  • Roger Cheng 10/25/2012 9:09:42 PM
    $7.5 billion in recognized revenue from iPad, an increase in 9 percent.
  • Roger Cheng 10/25/2012 9:10:05 PM
    The iPad is fundamentally changing work practices around the world, Oppenheimer says.
  • Roger Cheng 10/25/2012 9:10:25 PM
    Volkswagon has developed more than 30 in-house apps for iPad use at work, Oppenheimer says.
  • Roger Cheng 10/25/2012 9:10:56 PM
    Oppenheimer continues to list off examples of companies using the iPad to "redefine" how they operate.
  • Roger Cheng 10/25/2012 9:11:15 PM
    We sold over 44 million iOS devices in the September quarter, he says.
  • Josh Lowensohn 10/25/2012 9:11:36 PM
    Cloud numbers now.
  • Roger Cheng 10/25/2012 9:11:36 PM
    We established an all-time record for quarterly app sales. Reached $6.5 billion in cumulative payments to developers.
  • Roger Cheng 10/25/2012 9:12:07 PM
    iOS 6 is already on 200 million devices, Oppenheimer says.
  • Josh Lowensohn 10/25/2012 9:12:22 PM
    iOS 6 launched last month, and now on more than 200M devices (this number came up during Apple's event earlier this week).

    Oppenheimer brings up Maps, saying the company will work hard.
  • Josh Lowensohn 10/25/2012 9:12:27 PM
    to improve, that is.
  • Roger Cheng 10/25/2012 9:12:31 PM
    We will work non-stop until maps meets our incredibly high standards, Oppenheimer says.
  • Roger Cheng 10/25/2012 9:12:53 PM
    Apple opened 18 news stores in the quarter, including a new one in Sweden and a second one in Hong Kong.
  • Roger Cheng 10/25/2012 9:13:05 PM
    Apple ended the quarter with 390 stores, Oppenheimer says.
  • Josh Lowensohn 10/25/2012 9:13:05 PM
    Onto Retail: 18 percent increase in revenue. 18 new stores in 10 countries during the quarter, including on in Sweden, and another in Hong Kong which was the largest opening.

    390 stores, 140 of which are outside of the U.S.
  • Roger Cheng 10/25/2012 9:13:22 PM
    Apple stores generated $848 million in segment revenue in the period.
  • Roger Cheng 10/25/2012 9:14:40 PM
    The tax rate for the period was 24.5%, with full year rate at 25.2%, he says.
  • Josh Lowensohn 10/25/2012 9:14:51 PM
    19,000 visitors per week at retail. Oppenheimer moves onto tax rates and compensations now.

    Cash: $121.3 billion at the end of the quarter.
  • mranderson43 10/25/2012 9:15:39 PM
    I want the new itunes.
  • Roger Cheng 10/25/2012 9:15:56 PM
    Apple started an accelerated share buyback program with a private investor, and said it may publicly buy back shares.
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