Apple: $1.58b profit; 2.3m Macs, iPhones shipped
updated 04:30 pm EST, Tue January 22, 2008
Apple posts $1.58b profit
Apple on Tuesday posted revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share for its fiscal 2008 first quarter ended December 29, 2007. The Company said that the results compare to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter. Analysts surveyed by Thomson Financial had forecast Apple to earn $1.62 a share on revenue of $9.47 billion. Gross margin was 34.7 percent, up from 31.2 percent in the year-ago quarter, while international sales accounted for 45 percent of the quarter's revenue. Apple shipped 2,319,000 Macs, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The Company also said it sold 22,121,000 iPods during the quarter, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone sales were 2,315,000.
"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks."
"Apple's revenue grew 35 percent year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter's record-breaking results," said Peter Oppenheimer, Apple's CFO. "Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $.94."
Stock...
01/22, 04:57pm reply
Is the stock still heading south? Let me know when I should jump in...
CVB
cvbcvb
Fresh-Faced Recruit
Joined: Nov 2003
Stock was down 15...
01/22, 05:00pm reply
When the market went OMG this morning, AAPL was down as much as 15. Ended up down almost 6 on the day. Might not be a bad time to jump on board if you can stomach a rough ride. The market's not gonna be a pretty place in the near future for anyone, especially not tech stocks.
Zaren
Fresh-Faced Recruit
Joined: Aug 2001
Then again...
01/22, 05:06pm reply
"Apple reports earnings and revenue that beat Wall Street estimates but stock falls after hours as guidance misses projections"
The last time they did this, AAPL dropped 60% the next day.
Zaren
Fresh-Faced Recruit
Joined: Aug 2001
ouch
01/22, 05:39pm reply
stock is at $136 in after hours trading. lamety lame lame.
ccrider
Mac Enthusiast
Joined: Mar 2001
lowered guidance
01/22, 05:41pm reply
"The last time they did this, AAPL dropped 60% the next day."
When was this? Such a faint memory....
windsurfer_nyc
Fresh-Faced Recruit
Joined: Sep 2004
Every time after Q1
01/22, 05:55pm reply
It's just incredible how wall street thinks. This seems to repeat itself every year. When Apple reports (stellar) earning for Q1 (a.k.a. the Christmas Quarter), they beat their own, as well as everyone else's estimates. The stock then takes a nose dive, because they announce lower guidance for Q2. Then throughout Feb and Mar, it moves sideways. Then in April, they report strong earnings (beating everyone's Q2 estimates and their own guidance).
For those with a taste for some risk, you could almost bet against the house and sell AAPL short in January...
vasic
Fresh-Faced Recruit
Joined: May 2005
Wow
01/22, 07:06pm reply
Anyone have a copy of Investing for Dummies lying around. This is when I wish I knew how to buy stocks because believe me, I'd buy some Apple tomorrow!
ibulldog
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Joined: Sep 2002