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Apple profits surge 77% on record sales of 4.1M Macs, 16.2M iPhones, 7.3M iPads

post #1 of 42
Thread Starter 
Apple said Tuesday that first quarter profits rose more than 77% to $6 billion, or $6.43 per diluted share, driven by record sales in three of its four major product categories, helping the electronics giant smash Wall Street's consensus estimates yet again.

The Cupertino-based company also posted record revenue of $26.74 billion for the three-month period ended December 25, 2010, or more than $2 billion above consensus estimates, as independent analyst and AppleInsider contributor Andy Zaky predicted. The results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter.

Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The company also sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. iPod sales during the quarter totaled 19.45 million, representing a seven percent unit decline from the year-ago quarter, while iPad sales came in at 7.33 millionunits.

We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales, said Apple Chief Executive Steve Jobs. We are firing on all cylinders and weve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers cant wait to get their hands on.

Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarters revenue.

We couldnt be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter, said Peter Oppenheimer, Apples CFO. Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.

Apple will provide live streaming of its Q1 2011 financial results conference call beginning at 2:00 p.m. PST. AppleInsider will have full coverage.
post #2 of 42
What was the consensus estimate?

EDIT: I found $24.31 billion by Googling, although the source wasn’t any big name.
post #3 of 42
Not only does that blow away analyst forecasts, it beats even the most bullish amateur's estimates.

Look for AAPL to sink tomorrow
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post #4 of 42
Boo-ya!
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post #5 of 42
Quote:
Originally Posted by nagromme View Post

What was the consensus estimate?

From an earlier AI article:

Analyst Mark Moskowitz of JP Morgan has weighed in with an earnings expectations report that expects "Apple to beat our above-consensus revenue and EPS estimates of $24.778 billion and $5.38," noting that "the Street consensus is at $24.226 billion and $5.34."
post #6 of 42
Quote:
Originally Posted by nagromme View Post

What was the consensus estimate?

Quote:
Originally Posted by andy zaky

Wall street Analysts polled by Thomson Reuters expect Apple to post $5.38 in earnings per share (EPS) on approximately $24.38 billion in revenue.

Bloggers are looking for Apple to post $6.32 in earnings per share (EPS) on approximately $26.4 billion in revenue.

Quote:
Originally Posted by Apple press release

The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share.

.....
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post #7 of 42
This and the fact that Jobs is staying on with Disney should more than makeup for the loss today.
Go AAPL!
post #8 of 42
Quote:
Originally Posted by nagromme View Post

What was the consensus estimate?

Quote:
Originally Posted by john galt View Post

Not only does that blow away analyst forecasts, it beats even the most bullish amateur's estimates.

Look for AAPL to sink tomorrow

Consensus street estimates were for $24.38 billion in revenue and $5.38 in EPS. Crushed.

The most bullish amateur's estimates were as high as $27.80 billion in rev and $6.61 EPS. Not met. Still...

Source: http://tech.fortune.cnn.com/2011/01/...nings-preview/
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post #9 of 42
Quote:
Originally Posted by nagromme View Post

What was the consensus estimate?

EDIT: I found $24.31 billion by Googling, although the source wasn’t any big name.

Here's EPS

Apple's forecast: $4.80
Consensus: $5.38
Bloggers: $6.32
Bullish Cross (Andy Zaky): $6.29
Actual EPS: $6.43

They knocked it out of the park again.

Here's Andy Zaky's forecast.
post #10 of 42
That's what happens when you sell a tiny mac mini for $700
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post #11 of 42
AAPL close to Fridays close in after hours trading. Hope this keeps up. I grabbed a few hundred more early this a.m. when they tanked.
Been using Apple since Apple ][ - Long on AAPL so biased
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Been using Apple since Apple ][ - Long on AAPL so biased
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post #12 of 42
redacted
Been using Apple since Apple ][ - Long on AAPL so biased
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Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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post #13 of 42
Quote:
Originally Posted by digitalclips View Post

Hope not!

You're dreamin'. Steve's health was factored in over a year prior. The company continues to explode in markets.
post #14 of 42
Just you wait 'til the Win7 phone takes off! Apple will be dead meat. iPod sales falling like a rock. The Zune will live again!
post #15 of 42
Quote:
Originally Posted by mdriftmeyer View Post

You're dreamin'. Steve's health was factored in over a year prior. The company continues to explode in markets.

I have total faith! I was replying to John Galt's post, sorry not the article. I added more AAPL this a.m. I am so confident.
Been using Apple since Apple ][ - Long on AAPL so biased
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Been using Apple since Apple ][ - Long on AAPL so biased
nMac Pro 6 Core, MacBookPro i7, MacBookPro i5, iPhones 5 and 5s, iPad Air, 2013 Mac mini, SE30, IIFx, Towers; G4 & G3.
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post #16 of 42
Quote:
Originally Posted by digitalclips View Post

AAPL close to Fridays close in after hours trading. Hope this keeps up. I grabbed a few hundred more early this a.m. when they tanked.

Good for you! I couldn't get the price I wanted (that's been happening a lot recently)
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post #17 of 42
Quote:
Originally Posted by OldMacGuy View Post

Just you wait 'til the Win7 phone takes off! Apple will be dead meat. iPod sales falling like a rock. The Zune will live again!

You forgot to end your comment with /sarcasm .
post #18 of 42
Wow, these profits really are mind-boggling. I know how great most Apple products are so I'm not surprised they do well, but the fact that they have so much traction in so many markets really is phenomenal.

With the $2 billion higher profits than people expected alone Apple could already easily cover a full year of significantly lower profit margins of selling the iPad 2 with a 3 times more expensive ultra high-res screen, without even having to increase the retail price compared to the current model. Of course things aren't as simple as that, but with the money like running water, if I were in charge, I'd be inclined to just say 'what the heck, just do it and let the competition bite the dust'
post #19 of 42
Nearly a 20% beat on EPS. Very impressive.
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post #20 of 42
Dammit, I can't believe I panic-sold 125 shares at 327 (god only knows how I got hosed so badly -- the order went through in a hole this AM).

oh well, paid 16/share, so I should cry too loudly.
post #21 of 42
That's a lot of iPads for one quarter. Safe to say 2010 total iPad sales destroyed even the most liberal initial estimates.
post #22 of 42
Quote:
Originally Posted by iCarbon View Post

Dammit, I can't believe I panic-sold 125 shares at 327 (god only knows how I got hosed so badly -- the order went through in a hole this AM).

oh well, paid 16/share, so I should cry too loudly.

Placing market orders for a volatile stock on a day like today is a great way to get hosed.
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post #23 of 42
With the joint efforts by LG and Apple to see an additional 10 million panels to be made for the iOS platform, it's not unreasonable to see that go up even further.

We'll be here next time in 2012 talking about 20-25 million iPads world-wide being sold, for the quarter.
post #24 of 42
Apple has 59.7b in cash, compared to 51b last quarter.

Wow!!!
post #25 of 42
Quote:
Originally Posted by Postulant View Post

Apple has 59.7b in cash, compared to 51b last quarter.

Wow!!!

Probably saving up to buy somebody really big.
post #26 of 42
All those billions and they can't find a way to put a password protect on Keynote files after 8 years.
How embarrassing and grossly inept. \
post #27 of 42
Quote:
Originally Posted by d-range View Post

With the $2 billion higher profits than people expected alone Apple could already easily cover a full year of significantly lower profit margins of selling the iPad 2 with a 3 times more expensive ultra high-res screen, without even having to increase the retail price compared to the current model. Of course things aren't as simple as that, but with the money like running water, if I were in charge, I'd be inclined to just say 'what the heck, just do it and let the competition bite the dust'

I'm thinking the same thing but with fatter memory and a $100/SKU price drop. No one (repeat: NO ONE) will be able to match either your or my suggestion be able to be competitive. The race to the bottom will be over. There will be Apple in the stratosphere and every other tablet seller sitting lower than whale pucky.

But some out of work attorney will be happy to bring a class-action price-fixing monopoly-type suit against Apple, which will get tied up in courts for ages.
post #28 of 42
Quote:
Originally Posted by rain View Post

All those billions and they can't find a way to put a password protect on Keynote files after 8 years.
How embarrassing and grossly inept. \

What USE CASES are you referencing that you need to encrypt a Presentation you intend to be presented to your clients?
post #29 of 42
Quote:
Originally Posted by rain View Post

All those billions and they can't find a way to put a password protect on Keynote files after 8 years.
How embarrassing and grossly inept. \

Wow. Talk about a nit-pick that looks like a grain of sand on a beach...

There are utilities out there that will encrypt and password protect individual files A quick search on MacUpdate turned up this free app and many others: http://www.macupdate.com/app/mac/32894/cryptor
post #30 of 42
Had my wife given me a iPad for Christmas Apple's sale would have been $499 higher!
How many like me didn't let Santa know? Around $99,000,000 worth of sales?
She did raise my allowance by $9.60 a week for 2011 so I'll buy my own next Christmas.
post #31 of 42
Quote:
Originally Posted by rain View Post

All those billions and they can't find a way to put a password protect on Keynote files after 8 years.
How embarrassing and grossly inept. \

Agreed, hard to believe Steve can hold his head up.

Imagine how embarrassed he must be.
post #32 of 42
Quote:
Originally Posted by Ecphorizer View Post

Wow. Talk about a nit-pick that looks like a grain of sand on a beach...

There are utilities out there that will encrypt and password protect individual files A quick search on MacUpdate turned up this free app and many others: http://www.macupdate.com/app/mac/32894/cryptor

He wants Presentations to be akin to Acrobat Password encrypted self-contained presentations. He wants that functionality built into Keynote so he can type in the password, I suppose, or protect his stolen presentation from being opened by a thief, perhaps.

I think he'd rather see Keynote be able to export all those transitions and other animated functionality to a self-contained PDF that he can encrypt, but I won't speak for him.
post #33 of 42
iPhone sales were a bit disappointing.


/ I'll get my coat.
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post #34 of 42
Quote:
Originally Posted by EyeNsteinNo View Post

Had my wife given me a iPad for Christmas Apple's sale would have been $499 higher!
How many like me didn't let Santa know? Around $99,000,000 worth of sales?
She did raise my allowance by $9.60 a week for 2011 so I'll buy my own next Christmas.

Just buy ten shares of AAPL and let it fund itself. One year target is about $450, even after you pay capital gains, you'll have enough for a nice iPad.

post #35 of 42
Quote:
Originally Posted by d-range View Post

With the $2 billion higher profits than people expected alone Apple could already easily cover a full year of significantly lower profit margins of selling the iPad 2 with a 3 times more expensive ultra high-res screen, without even having to increase the retail price compared to the current model. Of course things aren't as simple as that, but with the money like running water, if I were in charge, I'd be inclined to just say 'what the heck, just do it and let the competition bite the dust'

If you were in charge, Apple wouldn't have $60 B in the bank.

The iPad is the market leader in almost every way you can count. The competitors' products are half the size, but cost as much as the iPad or more. Just why in the world would Apple drop the price?

Quote:
Originally Posted by iCarbon View Post

Dammit, I can't believe I panic-sold 125 shares at 327 (god only knows how I got hosed so badly -- the order went through in a hole this AM).

Learn to use limit orders.
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post #36 of 42
Here's an interesting group of numbers I haven't seen reported yet:
iPhone: 16,240,000
iPad: 7,330,000
iPod Touch: 10,000,000 (19.45 million units, over half of which were iPod touch)
Apple TV: 1,000,000 (we know they sold at least this many)

Total IOS devices sold this quarter: 34,570,000

Average IOS sales per day over the last quarter: 384,111.

Looks to me like IOS is outselling Android by a huge margin, since they have only recently started claiming over 300,000 per day
post #37 of 42
Quote:
Originally Posted by jragosta View Post

If you were in charge, Apple wouldn't have $60 B in the bank.

Apple's cash reserves are estimated to be $70B buy the end of 20111; after today's performance, I suspect that number will be substantially higher. At some point, Apple needs to do something with that money - buy something, buy marketshare or return some to shareholders as dividends. I did not buy Apple with the anticipation of a dividend check, so I will be fine if they do either of the other two options.

Or, they can always open a bank.
post #38 of 42
Big story for me is the announcement of 3 more prepaid component deals - just as I have been suggesting. These deals are not only returning great margins to Apple, but also likely disrupting the supply chains of competitors. Not to mention that they may be providing Apple with exclusive access to new technologies.
post #39 of 42
Amazing numbers. The iPhones and Mac numbers are impressive. The iPads?! even more impressive!! That's 14.8M iPads in 2010!!

Quote:
Originally Posted by LTMP View Post

Here's an interesting group of numbers I haven't seen reported yet:
iPhone: 16,240,000
iPad: 7,330,000
iPod Touch: 10,000,000 (19.45 million units, over half of which were iPod touch)
Apple TV: 1,000,000 (we know they sold at least this many)

Total IOS devices sold this quarter: 34,570,000

Average IOS sales per day over the last quarter: 384,111.

Looks to me like IOS is outselling Android by a huge margin, since they have only recently started claiming over 300,000 per day

Steve Jobs knew what he was talking about when he said RIM won't catch up as well. Apple sold 2 million more iPhones than BlackBerry devices.
post #40 of 42
Quote:
Originally Posted by LTMP View Post

Here's an interesting group of numbers I haven't seen reported yet:
iPhone: 16,240,000
iPad: 7,330,000
iPod Touch: 10,000,000 (19.45 million units, over half of which were iPod touch)
Apple TV: 1,000,000 (we know they sold at least this many)

Total IOS devices sold this quarter: 34,570,000

Average IOS sales per day over the last quarter: 384,111.

Looks to me like IOS is outselling Android by a huge margin, since they have only recently started claiming over 300,000 per day

Android activations reached 300K in the first week of December. October started at about 200k. Average 250k for Quarter.

I still would have preferred more iPhone sales - however that was supply constraints.
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