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AAPL Stock: 102.99 ( + 0.52 )

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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."




by MacNN Staff

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Comments

  1. jarod

    Joined: Dec 1969

    0

    Say...

    Who would have guessed? :-D

    BOW DOWN to the King Jobs. To all you analysts that thought otherwise.... UP YOURS!

  1. dashiel

    Joined: Dec 1969

    0

    what?

    i think this is the first time in my memory that apple stock has gone up after positive quarterly news. what the hizzy?

  1. olePigeon

    Joined: Dec 1969

    0

    Hah, so true dashiel.

    I used to say, "Apple could develope cold fusion and their stock would still go down."

  1. TailsToo

    Joined: Dec 1969

    0

    .

    The stock is down for the day - all is well in the universe.

  1. t_hah

    Joined: Dec 1969

    0

    Re: what?

    No, it happened last year as well. :-)

  1. ZinkDifferent

    Joined: Dec 1969

    0

    a comedy

    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.

  1. runcoberry

    Joined: Dec 1969

    0

    woot!!!

    all our base are belong to you

  1. testudo

    Joined: Dec 1969

    0

    Re: a comedy

    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).

  1. Fast iBook

    Joined: Dec 1969

    0

    I could see

    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

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