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Apple profits rise over 89% on sales of 2.94M Macs, 8.75M iPhones

post #1 of 139
Thread Starter 
Apple said Tuesday that second-quarter profits rose nearly 90 percent to $3.07 billion, or $3.33 per diluted share, on record non-holiday quarter sales of $13.50 billion for the three-month period ended March*27, 2010.

These results compare to revenue of $9.08 billion and net quarterly profit of $1.62 billion, or $1.79 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent, up from 39.9 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.

Apple sold 2.94*million Macintosh computers during the quarter, representing a 33 percent unit increase over the year-ago quarter. The company also sold 8.75*million iPhones in the quarter, representing 131 percent unit growth over the year-ago quarter. iPod sales came in at 10.89*million units, representing a one percent unit decline from the year-ago quarter.

"We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent," said Steve Jobs, Apple’s CEO. "We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year."

"Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39," said Peter Oppenheimer, Apple’s CFO.

Apple will provide live streaming of its Q2 2010 financial results conference call beginning at 2:00 p.m. PDT, 5:00 pm ET . AppleInsider will provide live running coverage.
post #2 of 139
Come on AAPL $300!!!!
post #3 of 139
Congratz!

I know this isn't the place for it but since this post will likely be seen by lots of readers...

- Anyone else wonder why Apple didn't issue an IMMEDIATE C&D Letter from its legal group the second Gizmodo posted the photos of the prototype?
- Anyone else wonder why those photos are STILL being shown?

Finally

- Does Apples inaction in anyway lessen their ability to go after Gizmodo?

PLEASE!!! Post any replies in the Gizmodo discussion thread... not here...
Apple Fanboy: Anyone who started liking Apple before I did!
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Apple Fanboy: Anyone who started liking Apple before I did!
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post #4 of 139
And I still kick myself today that I did not buy Apple stock when it was at $88...
post #5 of 139
Beat the Street by 36%. Not bad, not bad at all.

Once again, the score card... to see who came close.

Please don't be insane.
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Please don't be insane.
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post #6 of 139
Amazing.

"Weve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year including the one you saw yesterday."

j/k
post #7 of 139
This is THE Best Non-Holiday Quarter Ever!!!

Giovanni B. Saccone
Creativity is just connecting things (Steve Jobs)
> > > My wEb SiTe < < <

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Giovanni B. Saccone
Creativity is just connecting things (Steve Jobs)
> > > My wEb SiTe < < <

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post #8 of 139
Quote:
Originally Posted by Dr Millmoss View Post

Beat the Street by 36%. Not bad, not bad at all.

Once again, the score card... to see who came close.


Yup, not bad at all.
post #9 of 139
Sheesh. That is some performance. Execution par excellence.

Stock up >$18 (not a typo).
post #10 of 139
Quote:
Originally Posted by giosaccone View Post

This is THE Best Non-Holiday Quarter Ever!!!

It always is. Then later, it will be the best quarter.
post #11 of 139
Wow!

And yet, Apple stock has been down the past few days. It's boggles the mind.

CGC

Most analysts were not even close.
post #12 of 139
Holy
Cow!
Progress is a comfortable disease
--e.e.c.
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Progress is a comfortable disease
--e.e.c.
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post #13 of 139
Quote:
Originally Posted by kerryn View Post

And I still kick myself today that I did not buy Apple stock when it was at $88...

Regret is such a useless emotion.

But I do hope you're not going to say the same thing some day about $243......
post #14 of 139
Quote:
Originally Posted by anantksundaram View Post

Sheesh. That is some performance. Execution par excellence.

Stock up >$18 (not a typo).

It's funny how it went down today and yesterday on the basis of Apple not beating expectations. The NY Times had an article today about how Apple needs to top itself in investors eyes for the stock to keep climbing.
post #15 of 139
Oh, I forgot.....

Apple is doomed!
post #16 of 139
Quote:
Originally Posted by melgross View Post

It's funny how it went down today and yesterday on the basis of Apple not beating expectations. The NY Times had an article today about how Apple needs to top itself in investors eyes for the stock to keep climbing.

And, TOP (with a capital T, O, and P) they did!
post #17 of 139
Quote:
Originally Posted by melgross View Post

It always is. Then later, it will be the best quarter.

A company has to keep on having "best quarters ever" or they are going backwards, and investors don't like backwards earnings growth. But what's so staggering about AAPL is the consistency of EPS growth over the past few years. Mind boggling, more like.
Please don't be insane.
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Please don't be insane.
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post #18 of 139
Makes their price rises on the Macbook pro's that much more obscene. As well at the $120 ripoff for the iPad with a 3G chip.

And $50 billion in pure profit sitting in a bank, and not a penny going back to the stockholders.
post #19 of 139
Quote:
Originally Posted by anantksundaram View Post

Sheesh. That is some performance. Execution par excellence.

Stock up >$18 (not a typo).

And they wonder why we love Apple and SJ
post #20 of 139
Quote:
Originally Posted by melgross View Post

It's funny how it went down today and yesterday on the basis of Apple not beating expectations. The NY Times had an article today about how Apple needs to top itself in investors eyes for the stock to keep climbing.

I think we tend to see a lot of hedging by institutions ahead of earnings reports, especially on a stock that has performed so well over just the last month. They take some money off the table just to be safe.
Please don't be insane.
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Please don't be insane.
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post #21 of 139
Quote:
Originally Posted by Dr Millmoss View Post

A company has to keep on having "best quarters ever" or they are going backwards, and investors don't like backwards earnings growth. But what's so staggering about AAPL is the consistency of EPS growth over the past few years. Mind boggling, more like.

Next quarter should be very interesting for Apple as this past quarter is the worst quarter for the year, historically, and includes no revenue from iPad sales, or sales from the iPad app store.

They also blew through the iPhone sales projections. And I mean BLEW!

iPod sales numbers are a nice surprise as well. I wonder if iTouch sales were responsible for the tiny 1% drop.

Too bad we were 60,000 Mac sales short of 3 million.

And Ara Technica is having a live blog of the call, which has just started.
post #22 of 139
Quote:
Originally Posted by LouisTheXIV View Post

Makes their price rises on the Macbook pro's that much more obscene. As well at the $120 ripoff for the iPad with a 3G chip.

And $50 billion in pure profit sitting in a bank, and not a penny going back to the stockholders.

Hello, sorry to be heartless (we stockholders are having a small party here): you may confusing cause and effect.
post #23 of 139
Quote:
Originally Posted by LouisTheXIV View Post

Makes their price rises on the Macbook pro's that much more obscene. As well at the $120 ripoff for the iPad with a 3G chip.

And $50 billion in pure profit sitting in a bank, and not a penny going back to the stockholders.

There's a good analysis as to why Apple can't give much of that back.

http://blogs.wsj.com/source/2010/04/.../?mod=yahoo_hs
post #24 of 139
Quote:
Originally Posted by AppleInsider View Post

we have several more extraordinary products in the pipeline for this year

Several !!!!111111!!!
post #25 of 139
Quote:
Originally Posted by NasserAE View Post

Amazing.

"Weve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year including the one you saw yesterday."

j/k

Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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Dick Applebaum on whether the iPad is a personal computer: "BTW, I am posting this from my iPad pc while sitting on the throne... personal enough for you?"
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post #26 of 139
iTouch sales up 63% yoy.
post #27 of 139
Quote:
Originally Posted by melgross View Post


And Ara Technica is having a live blog of the call, which has just started.

Even better, you can listen to it live here: http://www.apple.com/quicktime/qtv/earningsq210/
post #28 of 139
Quote:
Originally Posted by anantksundaram View Post

Stock up >$18 (not a typo).

The object in Microsoft's rear view mirror is closer than it looks.
Very loud footsteps now.
post #29 of 139
Quote:
Originally Posted by anantksundaram View Post

Even better, you can listen to it live here: http://www.apple.com/quicktime/qtv/earningsq210/

I'm listening to that as well. But Jacqui does a good job of giving the important info, and people can comment.
post #30 of 139
Their forward looking expectations for the next quarter is going to be disappointing, as usual. I just hope it doesn't cut the gains back that they made tonight.
post #31 of 139
Quote:
Originally Posted by melgross View Post

There's a good analysis as to why Apple can't give much of that back.

http://blogs.wsj.com/source/2010/04/.../?mod=yahoo_hs

Not sure I can agree with much of his reasoning (not that anyone is expecting a huge dividend). He appears to be making an assumption that Apple's cash is being invested at a high rate of return. Heavens why?

I think he's also short of Apple's cash. I'm pretty sure it's well over $50b with securities.
Please don't be insane.
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Please don't be insane.
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post #32 of 139
What is interesting to hear is how these guys (Cook and Oppenheimer) speak dozens of sentences to basically say 'NO,' or 'NO COMMENT.'

Good thing it's not SJ on the call......
post #33 of 139
Quote:
Originally Posted by kerryn View Post

And I still kick myself today that I did not buy Apple stock when it was at $88...

I did buy when it was at that price and even bought when it fell to $80. But I still kick myself today that I did not buy more!

post #34 of 139
Interesting numbers never before released. Revenue from "greater China", which includes mainland China, Taiwan, and Hong Kong, was $1.3 billion over the past 6 months, up 200% (four times) from the year before.
post #35 of 139
Quote:
Originally Posted by Dr Millmoss View Post

Not sure I can agree with much of his reasoning (not that anyone is expecting a huge dividend). He appears to be making an assumption that Apple's cash is being invested at a high rate of return. Heavens why?

I think he's also short of Apple's cash. I'm pretty sure it's well over $50b with securities.

It seems sound to me.
post #36 of 139
Quote:
Originally Posted by melgross View Post

Interesting numbers never before released. Revenue from "greater China", which includes mainland China, Taiwan, and Hong Kong, was $1.3 billion over the past 6 months, up 200% (four times) from the year before.

And, I thought I heard him say 9X increase in China?
post #37 of 139
Quote:
Originally Posted by anantksundaram View Post

And, I thought I heard him say 9X increase in China?

That was phone growth.
post #38 of 139
Phone growth in Asia overall was almost 500%. Almost 200% in Japan.
post #39 of 139
Quote:
Originally Posted by Mazda 3s View Post

Come on AAPL $300!!!!

Looks like they'll open up about $15 dollars a share tomorrow.... WOW!

Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

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Proud AAPL stock owner.

 

GOA

 

Get the lowdown on the coming collapse:  http://www.cbo.gov/publication/45010

Reply
post #40 of 139
Quote:
Originally Posted by LouisTheXIV View Post

Makes their price rises on the Macbook pro's that much more obscene. As well at the $120 ripoff for the iPad with a 3G chip.

And $50 billion in pure profit sitting in a bank, and not a penny going back to the stockholders.

Obscene? It sure makes it look like they know what they're doing - it's not like people are forced to buy their products.

And as a stockholder, I'm VERY happy with how they are doing. I'll take reinvestment in the company over a dividend any day.
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