Tag: earnings

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Apple experiences most significant quarterly revenue decline since 2019

In its Q1 2023 earnings report, Apple revealed that its overall sales during the typically lucrative holiday quarter were five percent lower than last year.

This marks the company’s first year-over-year decline since 2019.

In a press release, Apple CEO Tim Cook cited three factors for the company’s weak sales: production issues in China affecting iPhone 14 Pro and iPhone 14 Pro Max manufacturing, the strong dollar and the worldwide macroeconomic environment.

Given the lengthy order times across all of Apple’s iPhone 14 devices (and some other products, too), the tech giant specifically citing supply constraints as a key reason for eight percent year-over-year downtown in iPhone earnings isn’t surprising.

Apple’s Mac sales also declined a substantial 28.66 percent year- over-year, which, again, makes sense, given the MacBook Pro (2021) revamp that was well-received by critics (including myself) didn’t launch in 2022. That said, the company did release the M2 MacBook Air and Mac Studio in 2022.

On the plus side, Apple’s iPad division received a 29.66 percent boost, likely due to the revamped entry-level iPad and the iPad Pro (2022) being bumped up to the M2 chip. This year, new iPad releases are expected to be scarce, though 2024 is rumoured to mark the reveal of a foldable iPad.

“As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do,” said Apple CEO Tim Cook in the company’s earnings press release.

Below is a breakdown of earnings across all of Apple’s various divisions:

  • Revenue: $117.15 billion USD (roughly $156 billion CAD) vs. $121.10 billion USD (about $161.3 billion CAD) estimated, down 5.49 percent year-over-year
  • iPhone: $65.78 billion USD (roughly $87.6 billion CAD) vs. $68.29 billion USD (approximately $90.9 CAD) estimated, down 8.17 percent  year-over-year
  • Mac: $7.74 billion USD (about $10.31 billion CAD) vs. $9.63 billion USD (roughly $12.47 billion CAD) estimated, down 28.66 percent year-over-year
  •  iPad: $9.40 billion USD (approximately $12.52 billion CAD) vs. $7.76 billion USD (about $10.34 billion CAD) estimated, up 29.66 percent year-over-year
  • Services revenue: $20.77 billion USD (about $27.6 billion CAD) vs. $20.67 billion USD (roughly $27.5 billion CAD) estimated, up 6.4 percent year-over-year
  • Other Products: $13.48 billion USD (about $17.9 billion CAD) vs. $15.23 billion USD (approximately $20 billion CAD) estimated, down 8.3 percent year-over-year

Looking to 2023, Apple is expected to finally reveal its virtual reality/augmented reality headset, rumoured to be called the Reality Pro. The tech giant’s iPhone 15 line will also reportedly switch to USB-C.

Source: Apple Via: CNBC

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Mobile Syrup

Apple reports record $90.1 billion Q4 revenue, but iPhone disappoints

Apple generated $90.1 billion USD (about $122.2 billion CAD) in revenue in the fourth quarter of 2022, a record for the September quarter.

This marks a nine percent year-over-year increase, and helped bring Apple’s total 2022 fiscal year revenue to $394.3 billion USD (about $534.8 billion CAD) — itself an eight percent increase year-over-year.

That said, the iPhone brand didn’t perform as well as expected, generating $42.63 billion USD (about $57.83 billion CAD). While this was a 9.67 percent year-over-year growth for the iPhone brand, it was below the estimated $43.21 billion USD (about $58.62 billion CAD). This suggests a softer demand for the tech giant’s latest iPhones, the iPhone 14 and iPhone 14 Pro and Pro Max.

Speaking to CNBC, Apple CEO Tim Cook insisted that iPhone sales were strong, stating the company has brought in more “switchers” — those who bought an iPhone after owning an Android device. He also said there were supply constraints on the iPhone 14 Pro.

Notably, nearly all of Apple’s brands exhibited growth this quarter, with the exception of the iPad, which dropped 13.06 percent year-over-year to $7.17 billion USD (about $9.73 billion CAD). The latest iPad models, the iPad (2022) and iPad Pro, launched earlier this week.

Mac experienced the most significant growth, generating $11.51 billion USD (about $15.61 billion CAD) vs. an estimated $9.36 billion USD (about $12.7 billion CAD) — a 25.39 percent year-over-year increase.

Other Products revenue, which includes the Apple Watch, came in at $9.65 billion USD (about $13.09 billion CAD) — a 9.85 percent year-over-year jump and above the $9.17 billion USD (about $12.44 billion CAD) estimate.

Finally, Apple’s Services division, consisting of the likes of the App Store, iCloud and Apple Music, brought in $19.19 billion USD (about $26.03 billion CAD). This was up 4.98 percent from Q4 2021, but below the projected $20.10 billion USD (about $27.26 billion CAD).

As is the case since 2020, Apple didn’t provide any guidance for Q1 2023. However, it does have the aforementioned new iPads, as well as the recent increase price of Apple Music, Apple TV+ and Apple One.

Source: Apple

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Mobile Syrup

Bell added 109,726 mobile phone net subscribers in Q4 2021

BCE released its Q4 2021 earnings on February 3rd, adding 109,726 total net new postpaid and prepaid mobile phone subscribers. That’s up 77.8 percent from 61,716 added in Q4 2020.

For all of 2021, Bell reported total postpaid and prepaid mobile phone net additions were up 54.6% to 294,842.

Further, for Q4 2021, Bell said postpaid new subscriber activations accounted for 109,527, while prepaid only accounted for 199 additions.

Mobile postpaid churn — the rate at which customers stop subscribing to Bell — increased to 1.08 percent for Q4, which the carrier noted was “consistent” with an overall pick-up in market activity compared to last year. For all of 2021, churn was “essentially stable” at 0.93 percent compared to 0.92 percent in 2020.

At the end of 2021, Bell’s mobile phone base totalled 9,459,185, up 3.2 percent over 2020. That breaks down into 8,630,045 postpaid and 829,140 prepaid customers.

Bell reported a 3.3 percent increase to blended average revenue per user (ARPU), bringing it to $58.61 in Q4 2021. ARPU for full-year 2021 was $57.66. It’s also worth noting that as of Q4 2021, Bell will no longer report mobile phone blended average billing per user (ABPU) and switched to ARPU to “align with industry peers.”

Finally, BCE reported total operating revenue in Q4 was about $6.21 billion, up 1.8 percent over Q4 2020. For full-year 2021, BCE reported operating revenue of $23.45 billion. Wireless operating revenue was $2.48 billion in Q4 2021, and $8.99 billion for all of 2021.

You can find BCE’s full earnings page here, or check out the company’s Q3 2021 earnings here.

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Mobile Syrup

Bell added 109,726 mobile phone net subscribers in Q4 2021

BCE released its Q4 2021 earnings on February 3rd, adding 109,726 total net new postpaid and prepaid mobile phone subscribers. That’s up 77.8 percent from 61,716 added in Q4 2020.

For all of 2021, Bell reported total postpaid and prepaid mobile phone net additions were up 54.6% to 294,842.

Further, for Q4 2021, Bell said postpaid new subscriber activations accounted for 109,527, while prepaid only accounted for 199 additions.

Mobile postpaid churn — the rate at which customers stop subscribing to Bell — increased to 1.08 percent for Q4, which the carrier noted was “consistent” with an overall pick-up in market activity compared to last year. For all of 2021, churn was “essentially stable” at 0.93 percent compared to 0.92 percent in 2020.

At the end of 2021, Bell’s mobile phone base totalled 9,459,185, up 3.2 percent over 2020. That breaks down into 8,630,045 postpaid and 829,140 prepaid customers.

Bell reported a 3.3 percent increase to blended average revenue per user (ARPU), bringing it to $58.61 in Q4 2021. ARPU for full-year 2021 was $57.66. It’s also worth noting that as of Q4 2021, Bell will no longer report mobile phone blended average billing per user (ABPU) and switched to ARPU to “align with industry peers.”

Finally, BCE reported total operating revenue in Q4 was about $6.21 billion, up 1.8 percent over Q4 2020. For full-year 2021, BCE reported operating revenue of $23.45 billion. Wireless operating revenue was $2.48 billion in Q4 2021, and $8.99 billion for all of 2021.

You can find BCE’s full earnings page here, or check out the company’s Q3 2021 earnings here.

Categories
Mobile Syrup

Bell added 109,726 mobile phone net subscribers in Q4 2021

BCE released its Q4 2021 earnings on February 3rd, adding 109,726 total net new postpaid and prepaid mobile phone subscribers. That’s up 77.8 percent from 61,716 added in Q4 2020.

For all of 2021, Bell reported total postpaid and prepaid mobile phone net additions were up 54.6% to 294,842.

Further, for Q4 2021, Bell said postpaid new subscriber activations accounted for 109,527, while prepaid only accounted for 199 additions.

Mobile postpaid churn — the rate at which customers stop subscribing to Bell — increased to 1.08 percent for Q4, which the carrier noted was “consistent” with an overall pick-up in market activity compared to last year. For all of 2021, churn was “essentially stable” at 0.93 percent compared to 0.92 percent in 2020.

At the end of 2021, Bell’s mobile phone base totalled 9,459,185, up 3.2 percent over 2020. That breaks down into 8,630,045 postpaid and 829,140 prepaid customers.

Bell reported a 3.3 percent increase to blended average revenue per user (ARPU), bringing it to $58.61 in Q4 2021. ARPU for full-year 2021 was $57.66. It’s also worth noting that as of Q4 2021, Bell will no longer report mobile phone blended average billing per user (ABPU) and switched to ARPU to “align with industry peers.”

Finally, BCE reported total operating revenue in Q4 was about $6.21 billion, up 1.8 percent over Q4 2020. For full-year 2021, BCE reported operating revenue of $23.45 billion. Wireless operating revenue was $2.48 billion in Q4 2021, and $8.99 billion for all of 2021.

You can find BCE’s full earnings page here, or check out the company’s Q3 2021 earnings here.

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Mobile Syrup

Pixel 6 helped Google set an ‘all-time quarterly sales record’

Google’s parent company, Alphabet, dropped its Q4 2021 earnings Tuesday evening. The numbers were impressive as usual, with 41 percent year-over-year growth. You can read all that here if you want. What’s more impressive, however, is that the Pixel 6 apparently set an all-time quarterly sales record.

Now, there are a few caveats here before we dig in. First, Google doesn’t break out specific numbers for hardware. Instead, as Android Police notes, the hardware is included in ‘Google Services,’ which covers Android, Chrome, Google Maps, Search, Google Play, and YouTube. In other words, there are a lot of big money makers in there for Google and no real way to estimate how much of that was from the Pixel line, or even the Pixel 6 specifically.

With that in mind, let’s look at what Alphabet CEO Sundar Pichai said in the Q4 2021 earnings call:

“In Q4, we set all all-time quarterly sales record for Pixel. This came in spite of an extremely challenging supply-chain environment. The response from Pixel 6 from our customers and carrier partners was incredibly positive.”

Pichai also attributed some of the Pixel 6’s success to new artificial intelligence (AI) features, such as the new real-time translation tool. You can listen to the whole earnings call here.

While we can’t necessarily back up that statement with numbers (yet), Android Police did note that the Google Services segment is up, reporting over $69 (heh, nice) billion USD (about $87.5 billion CAD) in revenue in Q4. In 2020, the same segment reported $52.8 billion (roughly $66.99 billion CAD (heh, double nice)).

Considering Google launches Pixel flagships in the fall, usually around October or November, the company’s Q4 results usually include Pixel launch sales (even if we don’t get the exact numbers). And while I doubt that all of the difference between Q4 2021 and Q4 2020 came from Pixel 6 sales, we can likely attribute some of that increase to sales.

With all that in mind, it seems the Pixel 6 and 6 Pro are proving popular with customers. Considering the various supply issues, software problems, and myriad other concerns with the phones, the sales record is even more impressive. Hopefully this marks a change for Google, which has previously struggled with its smartphone line.

Source: Android Police

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Mobile Syrup

Shaw reports roughly 55,600 wireless net additions in Q1 2022 earnings

Shaw Communications launched its first-quarter 2022 results on January 12th, adding approximately 55,600 new wireless customers. Additionally, the company reiterated its support for the ongoing Rogers transaction.

Of the 55,600 wireless customers, Shaw noted there were 36,100 postpaid net additions. The company’s wireless service revenue grew 11.2 percent to $239 million thanks to subscriber growth, but Shaw says lower average revenue per user (ARPU) partially offset that growth.

Shaw reported that its wireless ARPU decreased 3.4 percent compared to the prior year to $36.95. Average billing per unit (ABPU) also fell 9.4 percent in Q1 2022 to $42.66.

Postpaid churn, on the other hand, improved from 1.81 percent in Q1 2021 to 1.70 percent in Q1 2022.

As for the Rogers transaction, Shaw says it remains committed to supporting the closure of the transaction. It’s worth noting that the CRTC hearing on the transaction wrapped up in November 2021. That hearing was the only public one for the Rogers-Shaw deal and it ended with few changes to the original proposal. However, the Competition Bureau and Innovation, Science and Economic Development Canada (ISED) will still have hearings on the transaction that won’t be open to the public.

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Mobile Syrup

Bell reports Q3 2021 earnings with 136,464 mobile phone net activations

Bell Canada Enterprises (BCE) reported its Q3 2021 earnings on November 4th, beating estimates thanks to a boost in wireless and improved customer retention.

The company reported 136,464 mobile phone net subscriber activations, up 14.3 percent from the same time last year. That was primarily driven by the 114,821 net mobile postpaid subscriber activations, up 45.9 percent year-over-year. However, Bell’s net prepaid mobile subscriber activations came in at 21,643 — down from 40,639 in 2020.

Further, Bell reported its “best-ever Q3 result” for postpaid churn, which came in at 0.93 percent.

BCE reported its mobile phone customer base now totals 9,349,459 as of the end of Q3 2021, a 2.7 percent increase over the same time last year. 8,520,518 are postpaid subscribers (up 3.2 percent) while 828,941 are prepaid (down 2.2 percent).

Average blended billing per user (ABPU) was up 1.1 percent to $74.07.

BCE’s total operating revenue was up 0.8 percent to roughly $5.84 billion. The company says this was driven by a 3.6 percent increase in service revenue. Bell’s total wireless operating revenue decreased by 0.9 percent to about $2.3 billion.

You can find BCE’s full earnings report here or view the Q2 2021 earnings details here.

Source: BCE

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Mobile Syrup

Apple lost $6 billon this quarter due to chip ongoing shortage and manufacturing delays

In its fiscal fourth-quarter 2021 earnings report, Apple revealed that it earned revenue of $83.4 billion (about $102.96 billion), a year-over-year increase of 29 percent.

However, this number is well below Wall Street expectations of $84.85 billion (roughly $104.7 billion CAD). In an interview with CNBC, Apple CEO Tim Cook said that supply chain constraints had a significant impact on Apple’s earnings this quarter.

“We had a very strong performance despite larger than expected supply constraints, which we estimate to be around $6 billion,” said cook. “The industry-wide chip shortages that have been talked about a lot and COVID-related manufacturing disruptions in Southeast Asia.”

This fall, Apple released the iPhone 13 series, a redesigned iPad Mini, the 9th-gen iPad, the Apple Watch Series 7, 3rd-gen AirPods and the MacBook Pro (2021). Though Apple’s iPhone 13 wasn’t released until the latter half of this financial quarter, it experienced 47 percent growth over last year. Apple’s iPad is also up 21 percent when compared to last year.

Both the iPhone 13 and new MacBook Pro have been difficult to hunt down amid shortages, with shipping dates in some cases several weeks (or months) away. Though it’s still unclear, it’s likely that Apple’s product shortage issues will continue into the holiday season.

Source: Apple Via: CNBC