After Blow Out IPhone Sales, Apple Says Revenue Is Going To Be Better Than Expected

Apple just announced strong opening weekend iPhone sales.

How strong? Well, they’re strong enough that the company had to provide an update on its revenue forecast.

In an SEC filing, Apple CFO Peter Oppenheimer said that revenue would come in at the high end of the company’s previously announce guidance of $US34-$37 billion.

Analysts were expecting revenue of $US36.11 billion.

He also said margins would be at the high end of the 36%-37% range it forecast.

The stock is up 6% on the news, closing in on $US500 per share.

From an SEC filing:

On September 23, 2013, Apple Inc. (the “Company”) announced that it has sold over nine million new iPhone 5s and iPhone 5c models, just three days after the launch of the new iPhones on September 20.

Apple expects total company revenue for the fourth fiscal quarter to be near the high end of the previously provided range of $US34 billion to $US37 billion, and expects gross margin to be near the high end of the previously provided range of 36% to 37%.

The foregoing contains forward-looking statements about the Company’s estimated revenue and gross margin for the fiscal quarter ending September 28, 2013. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation those identified in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 29, 2012, and its Forms 10-Q for the first three quarters of fiscal year 2013. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

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