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AAPL Stock: 100.57 ( + 0.04 )

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Apple announces best non-holiday quarter in history

updated 04:35 pm EDT, Wed April 22, 2009

Apple revenue is $8.16b

Apple on Wednesday announced revenue of $8.16 billion --up 9 percent from the year-ago quarter -- and a net quarterly profit of $1.21 billion, or $1.33 per diluted share, beating analysts estimates of earnings of $1.09 per share on revenue of $8 billion. The March results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. For the current quarter, gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter and international sales accounted for 46 percent of the quarter's revenue. Apple said it sold 2.22 million Macs during the quarter, representing a 3 percent unit decline from the year-ago quarter, but that it sold 11.01 million iPods during the quarter, a 3 percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 3.79 million representing 123 percent unit growth over the year-ago quarter, the company said.

"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Peter Oppenheimer, Apple's CFO. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00."

The company noted in its release that In accordance with the subscription accounting treatment required by GAAP, it recognizes revenue and cost of goods sold for iPhone and Apple TV over their estimated economic lives but that adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures for the quarter are $9.06 billion of "Adjusted Sales" and $1.66 billion of "Adjusted Net Income."




by MacNN Staff

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Comments

  1. WiseWeasel

    Joined: Dec 1969

    +4

    impressive

    Recession? What recession?

  1. hayesk

    Joined: Dec 1969

    +6

    Cool

    Well I guess there are a lot of people out there who ARE cool enough to be Mac people.

  1. bobolicious

    Joined: Dec 1969

    -2

    Many may be waiting...

    ...for an iPhone with video - and mobile HD movie downloads may become the date night rental status quo...

  1. Peter Bonte

    Joined: Dec 1969

    -2

    $29 billion in cash

    I thought Apple had more in cash.

    Impressive figures but we did lose Mac sales.

  1. njfuzzy

    Joined: Dec 1969

    +4

    $29 billion in cash and s

    Given the current state of securities (stocks, etc.) this is pretty damn impressive. I remember a time not long ago when Apple's total market cap was quite a bit less than $29 billion.

  1. trevc

    Joined: Dec 1969

    0

    Down this quarter too?

    I'm guessing the Microsoft commercials will hinder Mac Laptop sales this quarter as well (Damn Apple Tax ;-) )

    I'm waiting for the NEXT iMac upgrade (the last one was not earth shattering), which means I'll probably wait for Snow Leopard as well which means sales this quarter might be down in that area too?

  1. climacs

    Joined: Dec 1969

    +5

    so this good news means

    AAPL is going to drop $10 tomorrow as soon as the market opens, right?

  1. climacs

    Joined: Dec 1969

    +1

    oops Munster

    http://apple20.blogs.fortune.cnn.com/2009/04/21/bearish-grunts-from-a-pair-of-apple-bulls/

    Gene Munster has dumped AAPL and predicted $0.98 per share. Only off by 1/3.

  1. chas_m

    Moderator

    Joined: Dec 1969

    +1

    When?

    When will people stop taking ANAL-cysts seriously? They're NEVER right about this phenomenal company.

    As for the performance, given what we've all been through the last 3-4 months, I'd say their performance was extremely impressive.

    The take-away on this is "Apple soars while competitors flounder." Now if we could just turn AppleTV into the Next Big Thing ...

  1. testudo

    Joined: Dec 1969

    -1

    Re: When

    Now if we could just turn AppleTV into the Next Big Thing ...

    You can't 'turn' anything into the next big thing. It has to earn that. And the AppleTV hasn't come close yet.

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