Apple Reports Record Earnings, Jobs Hints at "Great" Upcoming Products
October 19, 2009 6:00 PM
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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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10/20/2009 10:47:20 AM
Never owned a Mac, only 2 Apple products I've owned are an iPhone and an iPod Touch. Over the years I've had dozens of cell phones, I use to get a new one every 4-5 months. The iPhone is EASILY my favorite, it's not even close. And the fact I can use LogMeIn on my Touch while I'm on the shitter makes it the coolest PMP I've ever owned. Not everyone who fills out Apple customer satisfaction surveys is blinded by some nutt-hugging auto love for all things Apple. My iPhone is far from perfect, but at the same time there's not another phone even in the same league as it IMHO. When I have to use my GF's LG Dare or her sons ENV2 I cringe. Pretty much the same can be said for any other cell phone out there today.
10/20/2009 3:26:51 PM
No offense, but if the Dare and Env2 are the best phones you've had/played with apart from the iPhone then it's no wonder. I would never argue that it's a bad subsidized cell phone from the cell phone companies, but if you compare it to the dozens, if not more, phones that cell phone providers don't offer at their store or online then you might understand what we mean. For some reason they just don't want to provide subsidies on most of the good phones. As a result they suffer because that adds at least $100 to the price of any phone.
"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
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