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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Apple Earnings Fall While Revenues Increase 0 comments
    Oct 29, 2013 11:11 AM | about stocks: AAPL

    Originally published at www.seclive.com

    Filing in Focus: Apple 8-K, October 28, 2013

    Apple Inc. (NASDAQ:AAPL) announced its financial results for the fourth fiscal quarter of 2013, reporting an earnings decline on increased revenues. Apple revenue increased 4% to $37.5B, or $600M above expectations but what is feeding investor apprehension is the decline in earnings. For the quarter, Apple's earnings fell from $8.2B and $8.67 a share last year to $7.5B and $8.26 per share. iPhone sales increased 26%, with the company selling 33.8 million phones though for a 7% lower average price at $577. iPad sales inched upward slightly from 14.0 million sold last year to 14.1 million sold this quarter. The average sales price of the iPad decreased similarly by 14% as consumers focus on the smaller iPad version. Carl Icahn, who owns 0.5% of the company, is imploring Apple to increase its stock buyback program from the $60B it intends to purchase to $120B, in an effort to increase Apple's stock value.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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