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.
This article is over a month old, voting and posting comments is disabled
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.
"I'd be pissed too, but you didn't have to go all Minority Report on his ass!" -- Jon Stewart on police raiding Gizmodo editor Jason Chen's home
Dynamite Earnings, But Weak Investor Reaction Anticipated for Apple
October 19, 2009, 9:08 AM
Apple's OS X Snow Leopard Pre-orders Roar to the Top of Amazon Sales Charts
August 4, 2009, 8:55 AM
10" Apple Tablet Reportedly Confirmed, Coming Next Year
July 24, 2009, 6:17 PM
Apple Posts Terrific Earnings as iPhone, Mac Sales Soar
July 22, 2009, 10:11 AM
AT&T, Apple Set Guidelines for June 19 iPhone 3G S Launch
June 11, 2009, 1:26 PM
AT&T Defeats Purpose of New Apple SIM, Locks iPad Air 2 Users to Its Network
October 24, 2014, 2:17 PM
Get Ready for "Microsoft Lumia" Smartphones in Next Few Months
October 24, 2014, 12:26 PM
Report: Samsung Galaxy S5 to Receive Android 5.0 Lollipop in December
October 24, 2014, 11:26 AM
Dreadful Fire Phone Sales Lead to $170M Writedown for Amazon
October 24, 2014, 8:55 AM
Xiaomi Moves Data Out of China to Woo EU, America, Escape Security Concerns
October 23, 2014, 5:11 PM
Android Wear’s First Major Update Brings GPS, Offline Music Support
October 23, 2014, 1:34 PM
Most Popular Articles
Chinese Government Declares Digital War Against America's Top Tech Firms
October 20, 2014, 12:07 PM
Report: 2015 Ford Focus Electric MSRP Slashed by $6,000, Will Retail for $29,995
October 18, 2014, 6:23 PM
Apple Releases iOS 8.1; Adds Apple Pay Support, SMS Relay, Instant Hotspot
October 20, 2014, 1:00 PM
Windows 8.1 + Android "Sell Mini PC" w/ Bay Trail Creates New PC Form Factor
October 20, 2014, 5:07 PM
Update: Motorola Droid Turbo Coming Oct 28, 48-hour Battery Life Confirmed
October 19, 2014, 9:19 PM
Latest Blog Posts
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information