Earnings

Apple and Netflix kill it… Nintendo, not so much.

· Apple reported fiscal 2012 first quarter earnings this week…they did ok. The company posted record quarterly revenue of $46.33B and record quarterly net profit of $13.06B. On the road to $46B, Apple sold 37.04M iPhones (128% unit growth over the year-ago quarter), 15.43M iPads (+111%), 5.2M Macs (+26%), and 15.4M iPods (-21%).

· Netflix announced Q4 2011 earnings. Revenue was +47% from the previous year to $876M. They made $40.7M, or 73 cents per share, in the final 3-months of last year (vs $47.1M / 87 cents per share a year earlier). They ended December with 24.4M subscribers in the U.S., up from 23.8M at the end of September. Also, Netflix confirmed in their call that they are no longer planning a video game rental-by-mail service. Netflix stock was up as much as 16% after their call.

· Nintendo posted profits of $631.6M for the October-December period of 2011, representing a 61% quarterly drop. In the call, they cited low 3DS sales and price cutting as contributing factors. Nintendo’s new forecast predicts a $580M operating loss for the full year, ending March 31st and annual sales of Wii to 10M devices (from 12M), and the 3DS to 14M (from 16M). Confirmed on the call, the Wii U will be available in the U.S. and other key markets in time for the 2012 holiday shopping season. Press release here.

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