Apple Reports Record Earnings, Jobs Hints at "Great" Upcoming Products
October 19, 2009 6:00 PM
comment(s) - last by
Apple is practically printing money, blowing away analysts estimates quarter after quarter, and sustaining terrific growth. Sales of Macs and iPods shot up in the company's fiscal Q4, which ended September 26.
(Source: Apple Gazette)
Even analyst's raised predictions fell dramatically short
Apple is a company that continues to
. Reporting its
fiscal Q4 earnings
late this afternoon, Apple continued to restore its reputation as one of Silicon Valley's hottest companies and help put a
from earlier this year behind it for good. The results for the quarter, which ended September 26, took even Apple's most optimistic supporters by surprise.
Analysts had raised their estimates in September, afraid of embarrassment from past underestimations. Unfortunately for them, the Apple surprise was even bigger this time, and they still fell short. Analysts
$1.42 earnings per share in profit -- Apple delivered $1.82 earnings per share. Revenue was $9.87B USD, much more than the predicted $9.2B USD.
Fueled by the
, over 7.4 million iPhones were sold over the quarter, nearly matching the raised estimates of analysts, some of whom were predicted about 7.5 million sales. Fears that Apple's sales weren't on pace proved unfounded. The sales marked an increase over analyst average estimates of 7 million phones, and a substantial increase over last year's sales of 6.9 million units.
The best news for Apple, though, was its Mac sales. Boosted by
and Back-to-School specials, Apple sold 3 million Macs, much more than the analyst forecast of 2.8 million units. This was particularly significant as Macs comprise the largest single source of Apple's income.
As predicted, iPod shipments declined 8 percent to 10.2 million units. Still, this was slightly cheerier than the 10 million units that was the average forecast. And the financials look rock solid. Gross margins as a percentage of revenue are up to 36.6 percent, compared 34.7 percent in fiscal Q4 of last year.
Despite being embarrassed again, analysts lavished praise on the bullish Apple.
Shaw Wu, who covers Apple for Kaufman Bros, "It was a strong, strong quarter. [The] big upside was driven by Macs and iPhones. This was amazing despite very high expectations, and we're still in the middle of a recession."
Stocks roared upwards in after hours trading, gaining more than 6 percent and cracking $201/share, to tie the company's highest historic share price (Note: These were after-hours trades, the market may yet settle to a slightly lower mark).
Apple CEO Steve Jobs cheered the results and titillated Apple fans, stating that the company has "some really great new products in the pipeline for 2010". He's likely referring to Apple's
upcoming tablet PC
, which is rumored to finally hit in 2010.
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RE: let's cut to the point
10/19/2009 7:37:48 PM
Most Apple owners are very satisfied with what they bought because they perceive it as being the best available product. Whether it is the best or not is irrelevant; they believe because they spent a lot of money on a recognised brand that they have the best product available.
Having bought what they see as the best brand, one which is recognisable among all their peers who also view it as the best brand makes them happy with their purchase. It doesn't matter if they are selling over-priced junk, or genuine high-quality products. Apple is now associated with quality and people like to be seen with it.
RE: let's cut to the point
10/19/2009 7:51:50 PM
Exactly. I think if they actually used all the products available and then voted I think we may end up seeing things in a bit truer light. Although what he says may still stand. It's one of the reasons why Sony is still pretty dominant in the TV sector even though there are other TVs that are better and cheaper than them. Perception is everything, which is why I said they aren't bad businessmen or marketers.
RE: let's cut to the point
10/20/2009 2:33:35 AM
Erm, don't Apple place gagging orders on customers who have problems with their product in order for them to get a refund?
"What's the matter sir, your iPod exploded and took out your car"
"Yes, and I am going to tell everyone"
"Actually Sir, you're not allowed to, Lawyers are already onto you, if you dare speak about this to anyone you will get a knock on your door in the middle of the night"
"Oh, I see"
"Yes, you better had"
"We are going to continue to work with them to make sure they understand the reality of the Internet. A lot of these people don't have Ph.Ds, and they don't have a degree in computer science." -- RIM co-CEO Michael Lazaridis
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