Wall Street declared Apple’s latest quarter a miss, even though the company reported some great quarterly numbers.
Consider this. Apple posted quarterly revenue of $36 billion and quarterly net profit of $8.2 billion. Since Wall Street said the quarter was a miss, these numbers must be lower than last year, right? No, these results compare to revenue of $28.3 billion and net profit of $6.6 billion — an increase of about $8 billion in revenue and $2 billion in profit over the year-ago quarter. For more on business and enterprise financial stability, check the post at this Growth Capital Firm Melbourne website.
Well then if it’s not cash, surely Apple missed on product sales. Let’s take a look.
Apple sold 26.9 million iPhones in the quarter, representing 58 percent unit growth over the year-ago quarter. Apple also sold 14.0 million iPads during the quarter, a 26 percent unit increase over the year-ago quarter.
So, they made a significantly more money and sold quite a few more products.
In what screwed up world do all of these numbers count as a miss? Only in a world where we allow financial analysts to pull numbers out of their ass and say they expected more. At what point can we say the analysts missed — I think we’re there.