Apple’s Earnings Call
Apple crushed revenue and earnings estimates, as anticipated, and the company’s guidance looks powerful for its holiday quarter.
However the iPad company posted an enormous miss: 4.19 million shipments versus the Street’s consensus at 4.7 million and lots of estimates above 5 million.
To the earnings call, Apple hinted that this was a minimum of in component a supply concern, noting that provide and demand weren’t balanced till September, the very last month of the quarter.
Steve Jobs stole the exhibit on the call, trashing opponents like RIM and Google, and suggesting that the iPad and iPhone will win in opposition to rivals simply because they may be much better products at excellent prices. Jobs also stated the company is holding onto its money — more than $50 billion now — largely in situation an enormous strategic opportunity comes along.
On the plus facet, Apple’s iPhone business posted huge numbers regardless of the “Antennagate” hoopla — Apple moved 14.1 million phones final quarter, and boasted in its press release that this beat RIM’s most latest quarter, when it shipped 12.1 million BlackBerry gadgets. (Although their fiscal quarters only overlapped by two from the 3 months.)
Steve Jobs also introduced that Apple has already sold greater than 250,000 of the brand new Apple Tv device.
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Apple Earnings up 12 Percent in Third Quarter
Apple reported on Tuesday third-quarter earnings higher than analysts had expected, but provided its usual conservative guidance.
Revenue came in at $8.34 billion, resulting in earnings of $1.35 per share. That’s a 12 percent increase from a year ago, when Apple reported earnings of $7.46 billion and earnings per share of $1.19.
The numbers for the quarter were even better than what analysts had predicted: They were expecting $1.17 in earnings per share and revenues of $8.2 billion.
Apple also beat most analysts’ expectations of its unit sales in its core businesses for the quarter. The company sold 2.6 million Macs, up 4 percent from a year ago, and 5.2 million iPhones, a 626 percent leap from a year ago. And even though the company’s 10.2 million iPods sold during the quarter was better than expected, it’s also Apple’s first yearly drop in iPod sales, declining 7 percent.
The quarter ended June 27 is the best nonholiday quarter in terms of revenue and earnings for Apple–a bar that had been newly set during the previous quarter. Apple again guided conservatively for the fourth quarter of 2009, saying it expects revenue between $8.7 billion and $8.9 billion on earnings per share between $1.18 to $1.23.
Apple’s earnings equate to more good news for the tech sector: last week had Intel, Dell, and IDC’s survey of the PC market all pointing to signs of recovery. We’ll have more details and will see what Apple executives and analysts have to say on the earnings call at 2 p.m.
Apple shares were up 2.1 percent to $154.69 in after hours trading.
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