Apple profits rise 58 percent as Mac sales top 2.3 million
Apple said Tuesday that first-quarter profits rose 58 percent to $1.58 billion, or $1.76 per diluted share, on sales of $9.6 billion for the three-month period ended December 29, 2007.
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. Gross margin was 34.7 percent, up from 31.2 percent in the year-ago quarter. International sales accounted for 45 percent of the quarter's revenue.
Apple shipped 2,319,000 Macintosh computers during the quarter, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The company also sold 22,121,000 iPods, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone sales came in at 2,315,000.
"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Apple chief executive Steve Jobs. "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."
Overall, 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.
"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," said Apple chief financial officer Peter Oppenheimer. "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."
Apple will conduct its Q1 2008 financial results conference call in about 30 minutes -- AppleInsider will provide full coverage.
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. Gross margin was 34.7 percent, up from 31.2 percent in the year-ago quarter. International sales accounted for 45 percent of the quarter's revenue.
Apple shipped 2,319,000 Macintosh computers during the quarter, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The company also sold 22,121,000 iPods, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone sales came in at 2,315,000.
"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Apple chief executive Steve Jobs. "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."
Overall, 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.
"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," said Apple chief financial officer Peter Oppenheimer. "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."
Apple will conduct its Q1 2008 financial results conference call in about 30 minutes -- AppleInsider will provide full coverage.
Comments
Is it too early to say "I told you so"?
Is it too early to say "I told you so"?
Yeah.
People could not have reasonably expected better. So, they are just selling perhaps because they need money NOW for some reason. Since I don't, I will sit tight. Somewhat surprised at the strength of these holiday earnings.
Nice, AAPL is down to $136. It could stand to lose another 20% in value though.
It could also go to zero. Nothing is guaranteed.
Where did you get that figure? Google finance shows $140.
Clearly a rational, well thought out move. Apple's (KNOWN TO BE CONSERVATIVE) estimates come in $200 million under the streets for next quarter so investors knock $15 billion off the valuation.
Apple might be a little high in their estimates this time around, especially considering that the severity of the upcoming recession is not known yet. The ramifications from the debt crises are not fully known yet, and so far we have seen devastating results for most of the lenders and banks out there.
Apple might be a little high in their estimates this time around, especially considering that the severity of the upcoming recession is not known yet. The ramifications from the debt crises are not fully known yet, and so far we have seen devastating results for most of the lenders and banks out there.
And they might be low, they tend to be conservative in their forward numbers.
So did you actually short AAPL?
So why is stock down 18 points? thats how much it should be up!
Maybe it's because people are equating Apple to be only the iPod and see that they only had 5% growth in iPod sales, and they are totally ignoring the strong increase in Mac sales and huge leaps in profit?
Maybe now is the time to buy more Apple?
The MBA will sink Apple.
Apple is teh DOOMED!!!!!!!!!!!!!!!!!!
Apple has never been positioned better. They have a huge cash reserve to survive a economic slow down and great hardware and software that people are buying.
The MBA will sink Apple.
Wouldn't have been a proper quarterly conference call without a prediction of doom.
Yea they have never had a heavier lead anchor than the MBA either. This thing will continue to cause these terrible stock drops. I feel bad for anyone with AAPL right now.
Outside of your esteemed opinion, what other evidence do you have of this?
The MBA will sink Apple.
Spoken like a true expert. So which Fortune 500 company did you build?
Yea they have never had a heavier lead anchor than the MBA either. This thing will continue to cause these terrible stock drops. I feel bad for anyone with AAPL right now.
I'm sorry (OK, I'm not), but really, you're being a woefully ignorant idiot. If you don't understand or know what's going on in the world's stock markets over the last week, you shouldn't post as if you think you know anything about stocks. Go to Google Finance or Yahoo Finance and take a look at how well the markets are doing and read up on what's going on.