Breaking Down Apple's Earnings Numbers

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July 24 (Bloomberg) -- Cory Johnson examines Apple's earnings report on Bloomberg Television's "In The Loop." (Source: Bloomberg)

To go the stock market seem to like what happened after the earnings came out.

If you look at the actual results, the results were mixed.

Revenues grew year over year.

Meanwhile, you have profits like taxes and investment gains.

Operating profits were down 20%. 20 percent in less revenue.

Not a great, strong growth quarter.

They talk about a couple of issues that got people excited.

This represents well over 50 percent of the revenues.

Thus quarter sales only 7% year over year growth.

This quarter the reported 20% year-over-year growth.

It is better than the last quarter.

I think that was seen as an encouraging sign.

They came out very vocally and said they would release new product in the fourth quarter.

This shows how badly they need to get the market excited and primed for something better happening around the fourth quarter.

To come long history -- longest string in history they have not come out with something new.

The ipad many we exhilarated things for the company.

Year over yields -- year over year sales slowed down.

Then they picked up with the release of the mini.

They had -14% unit growth.

14 percent fewer than a year ago.

So that is a big change as well.

We are constantly talking about increasing of mobility, a move to tablet.

Apple dominates that well over 80% market share.

What we found out last night was year-over-year sales also slowing dramatically.

Are a lot of things really slowing down in terms of growth.

The market is not growing as fast as it was globally, let alone in the u.s.. finally, they have not introduced new categories.

We might expect them to a least address to of them with new categories in the fourth quarter.

-- two of them with new categories in the fourth quarter.

Falling price of the ipad.

That is the effect of the ipad mini.

The result is the overall average selling price for all of them coming down.

Good point.


Focusing on facebook now.

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