iPhone sales record bolsters Apple's quarterly estimates

iPhone maker tells Wall Street to look forward to higher-than-expected financial results in its next reported quarter due to new sales record.

James Martin/CNET

On the heels of announcing more than 9 million new iPhones sold , Apple has told Wall Street to expect better results for its current financial quarter.

Apple now says it plans to come in "near" the higher end of a quarterly sales estimate it offered back in July. The mention was included in a filing with the US Securities and Exchange Commission on Monday.

"Apple expects total company revenue for the fourth fiscal quarter to be near the high end of the previously provided range of $34 billion to $37 billion, and expects gross margin to be near the high end of the previously provided range of 36 percent to 37 percent," the company said.

That's for Apple's current quarter, which runs through this Saturday, and marks the end of its fiscal year.

The iPhone sales record blew past what Wall Street was expecting, which was around 5 million to 6 million devices , based on at least three analyst reports. Apple's admission also suggests those sales surpassed even what the company was anticipating in its own forecast.

As with past reporting, Apple is not saying what the breakdown of those sales is by particular device, something Wall Street is paying close attention to now that the company has released two new iPhones at once -- the iPhone 5S and 5C. Several analysts have suggested that more than half of those devices were the higher-end 5S, which only became available for sale on Friday.

Wall Street is currently expecting Apple to report quarterly revenue of around $36.1 billion, with earnings per share of $7.66. That would be just barely up from the $36 billion in sales the company reported during the same quarter last year, and down from the $8.67 in earnings per share.

This morning's iPhone sales numbers sent Apple's stock climbing. Shares are currently selling at $485.75, which is up $18.34, or 3.92 percent.

About the author

Josh Lowensohn joined CNET in 2006 and now covers Apple. Before that, Josh wrote about everything from new Web start-ups, to remote-controlled robots that watch your house. Prior to joining CNET, Josh covered breaking video game news, as well as reviewing game software. His current console favorite is the Xbox 360.

 

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