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Apple announces Q205 profits of $290M on revenues of $3.24B

post #1 of 13
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Apple beats Wall Street estimates, once again.

Apple today announced financial results for its fiscal 2005 second quarter ended March 26, 2005. For the quarter, the Company posted a net profit of $290 million, or $.34 per diluted share. These results compare to a net profit of $46 million, or $.06 per diluted share, in the year-ago quarter. Revenue for the quarter was $3.24 billion, up 70 percent from the year-ago quarter. Gross margin was 29.8 percent, up from 27.8 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter's revenue.

Apple shipped 1,070,000 Macintosh units and 5,311,000 iPods during the quarter, representing a 43 percent increase in CPU units and a 558 percent increase in iPods over the year-ago quarter.

"We are delighted to report a record second quarter for Apple in both revenue and earnings, said Steve Jobs, AppleÂs CEO. ÂApple is firing on all cylinders and we have some incredible new products in the pipeline for the coming year, starting with Mac OS X Tiger later this month. Â*

"WeÂre very pleased to report 70 percent revenue growth and a 530 percent increase in net income, said Peter Oppenheimer, AppleÂs CFO. "Looking ahead to the third quarter of fiscal 2005, we expect revenue of about $3.25 billion and earnings per diluted share of about $.28."

Apple will provide live streaming of its Q2 2005 financial results conference call utilizing QuickTime, the company's standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Wednesday, April 13, 2005 and will also be available for replay.

AppleInsider will provide coverage of the call.

Apple Stock is down nearly 2% in after-hours trading to $40.23.
post #2 of 13
Hurray!... so why the *$@! is it down in after hours trading?
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post #3 of 13
Quote:
Originally posted by ikDigital
Hurray!... so why the *$@! is it down in after hours trading?

simple... buy on rumor, sell on fact. lots of short term buyers who jumped on the bandwagon from last quarter's record quarter are cashing out because they want their money now (and might not have the confidence in apple long term like others do).

look on the bright side... the lower it drops, the more feasible it is for us common people to take part.
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Nothing worth having comes without some kind of fight.
Gotta kick at the darkness 'til it bleeds daylight.

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When you're lovers in a dangerous time,
You're made to feel as if your love's a crime.
Nothing worth having comes without some kind of fight.
Gotta kick at the darkness 'til it bleeds daylight.

-...
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post #4 of 13
Quote:
Originally posted by AppleInsider
"Were very pleased to report 70 percent revenue growth and a 530 percent increase in net income,

i bet microsoft wishes they could say the same... then again, if they could, they could also buy a continent in the same breath.
When you're lovers in a dangerous time,
You're made to feel as if your love's a crime.
Nothing worth having comes without some kind of fight.
Gotta kick at the darkness 'til it bleeds daylight.

-...
Reply
When you're lovers in a dangerous time,
You're made to feel as if your love's a crime.
Nothing worth having comes without some kind of fight.
Gotta kick at the darkness 'til it bleeds daylight.

-...
Reply
post #5 of 13
Quote:
Originally posted by rok
i bet microsoft wishes they could say the same... then again, if they could, they could also buy a continent in the same breath.

Well, except for one thing. Apple's first quarter revenues generally suck. So this year they're better, but 530% of sucky ain't great. MS will blow their profits out of the water, and that's without selling any new stuff the last quarter.
post #6 of 13
Quote:
Originally posted by Louzer
and that's without selling any new stuff the last quarter.

I think you can extend that to "nothing new for the last 4 years"

"Resting on their laurels" I believe is the phrase your looking for.
post #7 of 13
"... for the last ever"
post #8 of 13
Yeah, it must really suck earning 3.24 billion.

I don't know how I'd live with myself being such an under achiever.
post #9 of 13
Quote:
Originally posted by Louzer
Well, except for one thing. Apple's first quarter revenues generally suck. So this year they're better, but 530% of sucky ain't great. MS will blow their profits out of the water, and that's without selling any new stuff the last quarter.

You mean MSFT will just beat the estimates by slashing another billion or so from things like benefits/perks and R&D like they have been having to do for the past couple of quarters?

Wallstreet seems to have missed those fantastic MS numbers this past year:

http://finance.yahoo.com/q/bc?s=MSFT&t=1y

Maybe they weren't paying attention?
post #10 of 13
Quote:
Originally posted by ikDigital
Hurray!... so why the *$@! is it down in after hours trading?

The BBC has an answer for you.

However, Apple said it expected earnings per share to be lower in the third quarter - at $28 per share as against $34 per share over the latest period - and revenues to remain largely flat at $3.25bn. [Don't they mean cents per share? -Rep]

After the closing bell, Apple shares fell 0.6% to $40.76.

Analysts gave mixed views on Apple's performance.

"Its second quarter is traditionally its toughest quarter and these numbers are good," said Jim Fisher, vice president and senior portfolio manager of Univest Wealth Management & Trust, told Reuters.

However, Sushil Wagle - senior vice president of J&W Seligman - said revenue forecasts for the third quarter were below some expectations, explaining the fall in the share price.
post #11 of 13
It's good to see Apple's unit sales over that elusive 1 million mark. They're finally back to where they were in 2000. Hopefully that number will continue to grow.
post #12 of 13
I think those CPU sales figures should result in a slight bump in market share. Hard to beleive Dell and the rest can match or beat those year over year increases.
post #13 of 13
Quote:
Originally posted by aegisdesign
Yeah, it must really suck earning 3.24 billion.

I don't know how I'd live with myself being such an under achiever.


They didn't earn 3.24 billion. That's total revenue. Total revenue!= total profit.

They earned $290 Million. Which is not bad. Not bad at all.
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