Live: Apple's Q4 2013 earnings report and conference call

October 28, 2013: 4:51 PM ET

Apple beat on sales of $37.5 and profits of $7.5 billion; shares dipped briefly after-hours.

Screen Shot 2013-10-28 at 4.43.10 PMFORTUNE --  Apple (AAPL) beat Wall Street's estimates pretty much across the board -- in sales, profits and units shipped. Earnings were down for the third quarter in a row, but that was as expected.

Apple closed at $529.88, up $3.92 (0.74%) for the day, but fell sharply in after hours trading. Traders may have been reacting to guidance for the December quarter that was slightly more conservative than expected: Revenue between $55 billion and $58 billion, gross margins between 36.5% and 37.5%.

By the end of the earnings call, the stock had recovered and was down less than $1. That gross margin figure looked better to analysts once they realized it included $900 million in deferrals.

"We generated $9.9 billion in cash flow from operations and returned an additional $7.8 billion in cash to shareholders through dividends and share repurchases during the September quarter, bringing cumulative payments under our capital return program to $36 billion," said Peter Oppenheimer, Apple's CFO.

The numbers:

Sales: $37.472 billion, up 4.2% year over year. 
Net profit: 
$7.5 billion, down 8.8%
$8.26, down 4.7%
33.797 million units, up 25.6% 
4.498 million units, down 34.5% 
 14.079 million units, up 0.3%
 4.575 million units, down 7.1%
iTunes/Software/Services: $4.3 billion, up 22%
Gross margin: 37%
Revenue guidance: $55-58 billion
Gross margin guidance: 36.5%-37.5%
Cash and marketable securities: $146.8 billion

Tune in here to listen in, with us, to Apple's conference call with analysts. Commentary below the fold.


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