Apple's $410m profit beats estimates
updated 04:40 pm EDT, Wed April 19, 2006
Apple posts $410m profit
Apple today announced revenue of $4.36 billion and a net quarterly profit of $410 million, or $.47 per diluted share, beating analyst estimates for net profit ($0.42) but falling short of the Street's revenue estimates ($4.52 billion). The March quarter results compare to revenue of $3.24 billion and a net profit of $290 million, or $.34 per diluted share, in the year-ago quarter. Gross margin was 29.8 percent, equivalent to the year-ago quarter. International sales accounted for 43 percent of the quarter's revenue. Apple shipped 1,112,000 Macs and 8,526,000 iPods during the quarter, representing 4 percent growth in Macs and 61 percent growth in iPods over the year-ago quarter.
"We've generated over $10 billion in revenue and almost $1 billion in earnings in the first half of fiscal 2006," said Steve Jobs, Apple's CEO. "Our transition to Intel processors is going very well, and our music business just experienced another quarter of outstanding growth."
"We're very pleased to report the second highest quarterly sales in Apple's history, resulting in year-over-year revenue growth of 34 percent and earnings growth of 41 percent," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the third quarter of fiscal 2006, we expect revenue of about $4.2 to $4.4 billion. We expect GAAP earnings per diluted share of about $.39 to $.43, including an estimated $.04 per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about $.43 to $.47."
Say...
04/19, 04:48pm reply
Who would have guessed? :-D
BOW DOWN to the King Jobs. To all you analysts that thought otherwise.... UP YOURS!
jarod
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Joined: Apr 2005
what?
04/19, 05:19pm reply
i think this is the first time in my memory that apple stock has gone up after positive quarterly news. what the hizzy?
dashiel
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Joined: Sep 2001
Hah, so true dashiel.
04/19, 05:59pm reply
I used to say, "Apple could develope cold fusion and their stock would still go down."
olePigeon
Clinically Insane
Joined: Dec 1999
.
04/19, 08:22pm reply
The stock is down for the day - all is well in the universe.
TailsToo
Mac Elite
Joined: Jun 2004
Re: what?
04/19, 08:27pm reply
No, it happened last year as well. :-)
t_hah
Mac Elite
Joined: Dec 2000
a comedy
04/20, 01:35am reply
Here's the way this plays out - Apple exceeds estimates by a healthy amount, and the stock will drop, because they haven't met the overhyped projections of the analysts - even though they beat net profit estimates, even though they cleared 1 BILLION dollar in profits in the first half of this year, and even though they doubled nearly everything from a year ago.
This is what ALWAYS happens after every earnings call when Apple exceeds estimates - it's almost a comedy.
Stay the course. I'd buy more stock over the next few days, to take advantage of the lower prices.
ZinkDifferent
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Joined: Jan 2005
woot!!!
04/20, 08:50am reply
all our base are belong to you
runcoberry
Junior Member
Joined: Nov 2001
Re: a comedy
04/20, 11:27am reply
or its because the anaylysts don't like the forecasts (don't know how to tell you all, but the buy/sell after earnings announcement is about the next quarter's earnings, not what just happened). Like the drop of 30% in retail store sales. Or apple complaining about not selling as much (like they did after last quarters results, which is what tanked the stock).
testudo
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Joined: Aug 2001
I could see
04/20, 02:46pm reply
I could see 100 dollar a share AAPL. It just would take some serious grunting and heaving and huffing on the part of the "gears" at apple. The gears are what turn the company's wheels. People who directly contribute to the innovation. I think a lot of what this new era will see is timing things just right, as to not get into a new product line ahead fo everyone, but not TOO far ahead, as that has been proven to be a falling point for apple (wireless networking in 1998, never fully acknowledge for being the first serious player on the scene). But hey, they've managed 30 years with all kinds of ups and downs, so i would expect this trend of going up up up to slow a bit, then take off when the timing is right. By 2010 i see 25% apple marketshare. These wall street folks are focused (when the stock tanks) on the short term. Very few see the true "potential" apple has as a cultural driving force, as well as one in industry. I see AAPL as a "hold" for those short on cash, and a "buy" at any price.
- Andy
Fast iBook
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