Earnings: Apple Posts $1 Billion-Plus Profit; Beats Street On Earnings, Revenue
Apple (NSDQ: AAPL) earned $1.05 billion, or $1.16 per share, for the quarter ending March 29, compared with $770 million, or $0.87 per share, in the same quarter last year. Revenues for the company’s second fiscal quarter were $7.51 billion, up 43 percent over $5.26 billion last year before the company launched the iPhone, the iPod Touch and the MacBook Air.
Some details:
—iPhone: 1,703,000 sold
—iPods: 10,644,000 iPods sold, increasing revenue by 8 percent over last year, and nudging unit sales up 1 percent.
Chipmaker acquired: Apple also confirmed its acquisition of P.A. Semi Inc. The privately held company makes power-efficient chips. No details on price yet.
Earnings Release | Webcast (5 p.m. EDT, requires Quicktime)
—David Adds: Conference call: Apple is confident on hitting the 10 million for the year on iPhone, especially as the rollout continues into more counties in Europe and Asia. As for how important 3G compatibility is in terms of getting to that 10 million mark, COO Tim Cook declined to say, offering only the international expansion is key.
—Sequential decrease of iPod sales are expected, said Peter Oppenheimer, SVP/CFO.
—The company expects to open roughly half of the new Apple Stores outside of the US this year. It currently has 208 retail stores.
—Asked whether Apple saw any changes resulting from unlocked iPhones bought in Q4 being activated in Q1, Oppenheimer says: “We don’t want to throw around numbers. Unlocking is occurring and we’re hearing reports of iPhones being bought all over the world. This is what gives us confidence in our ability to ship 10 million this year.”
Related StoriesPosted In: Money, Earnings, M&A & Venture Capital, Mergers & Acquisitions, Companies, Apple
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Comments (1)
Apr 25, 2008 2:01 PM
For what it’s worth, the data point that most grabbed me was the rate of growth of the Mac business relative to the rest of the industry - 51% this year compared to last - a rate of growth 3.5X better than the PC industry.
I see this growth rate as indicative of a halo effect starting to play out that touches so many aspects of Apple’s business.
Given that, I took a swag at articulating the strategic pieces at play for Apple in a post lovingly called, ‘Holy Shit! Apple’s Halo Effect.’
HERE IS THE URL: http://thenetworkgarden.com/weblog/2008/04/holy-shit-apple.html
Check it out if interested.
Cheers,
Mark