Earnings roundup -- Huawei, Apple, Juniper and LGE
Huawei's 1H revenue grew a solid 10.8% to 113.8 billion yuan ($18.5 billion), its unaudited results show. On the strength of the results, the Chinese vendor expects its profit margin to be 7-8% for the full 2013. Huawei attributed the 1H results to fast growth in the company's consumer segment and steady growth in carrier networking gear sales.
Apple revealed its June quarter profit fell 22% to $6.9 billion. Revenue grew just 0.8% to $35.3 billion. While iPhone sales grew to a record 31.2 million, from 26 million a year earlier, iPad sales fell to 14.6 million from 17 million over the same period. Gross margin also declined to 36.9% from 42.8%. Despite the lackluster results, they were better than analysts had been expecting, prompting a 5.1% increase in the company's Nasdaq share price.
Juniper Networks' preliminary Q2 results show a 69.6% jump in profit to $97.9 million, and 7% higher revenue of $1.15 billion. Operating margin improved 3.2 percentage points sequentially to 12%. The company expects revenue for the third quarter to be in the range of $1.14 billion and $1.18 billion. Juniper also used the earnings call to announce the pending departure of Kevin Johnson, its CEO. Johnson will retire after a successor is found.
LG Electronics posted a 13 billion won ($11.6 million) year-on-year decline in net profit to 156 billion ($139.8 million) won, despite a 10.1% increase in revenue to 15.23 trillion won. The electronics maker's smartphone business achieved a strong 34.5% growth in revenue to 3.12 trillion won, making it the fastest-growing of the vendor's market segments. The company shipped 12.1 million units during the quarter.