Apple posts profit of 1.05B, ships nearly 2.3 million Macs

Posted:
in General Discussion edited January 2014
Apple said Wednesday that second-quarter profits rose over 36 percent to $1.05 billion, or $1.16 per diluted share, on sales of $7.51 billion for the three-month period ended March 29, 2008.



These results compare to revenue of $5.26 billion and net quarterly profit of $770 million, or $.87 per diluted share, in the year-ago quarter. Gross margin was 32.9 percent, down from 35.1 percent in the year-ago quarter, and international sales accounted for 44 percent of the quarter's revenue.



Apple shipped 2,289,000 Macintosh computers during the quarter, representing 51 percent unit growth and 54 percent revenue growth over the year-ago quarter. The company also sold 10,644,000 iPods during the quarter, representing one percent unit growth and eight percent revenue growth over the year-ago quarter.



Quarterly iPhone sales were 1,703,000.



"We're delighted to report 43 percent revenue growth and the strongest March quarter revenue and earnings in Apple's history," said Apple chief executive Steve Jobs. "With over $17 billion in revenue for the first half of our fiscal year, we have strong momentum to launch some terrific new products in the coming quarters."



"We're thrilled to have generated $4 billion in cash flow from operations in the first half of fiscal 2008, yielding an ending cash balance of $19.4 billion," added Apple chief financial officer Peter Oppenheimer. "Looking ahead to the third quarter of fiscal 2008, we expect revenue of about $7.2 billion and earnings per diluted share of about $1.00."



Apple will conduct its Q2 2008 financial results conference call in about 30 minutes -- AppleInsider will provide full coverage.
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Comments

  • Reply 1 of 33
    Pretty good!! Will add to my position.
  • Reply 2 of 33
    cory bauercory bauer Posts: 1,286member
    Strongest March Quarter in Apple's history? Watch the stock tank.
  • Reply 3 of 33
    2.3M Macs is astonishing compared to what they were selling two years ago. I remember when 1.0M was crazy. We are witnessing the resurgence everyone, right now.



    I just hope all the idiot analysts soon realize that the real numbers that Apple announces on earnings days are the Mac numbers, not the iPod/iPhone numbers.



    --mAc
  • Reply 4 of 33
    melgrossmelgross Posts: 31,472member
    Well, well, well!
  • Reply 5 of 33
    Quote:
    Originally Posted by AppleInsider View Post


    Apple said Wednesday that second-quarter profits rose over 36 percent to $1.05 billion, or $1.16 per diluted share, on sales of $7.51 billion for the three-month period ended March 29, 2008.



    These results compare to revenue of $5.26 billion and net quarterly profit of $770 million, or $.87 per diluted share, in the year-ago quarter. Gross margin was 32.9 percent, down from 35.1 percent in the year-ago quarter, and international sales accounted for 44 percent of the quarter's revenue.



    Apple shipped 2,289,000 Macintosh computers during the quarter, representing 51 percent unit growth and 54 percent revenue growth over the year-ago quarter. The company also sold 10,644,000 iPods during the quarter, representing one percent unit growth and eight percent revenue growth over the year-ago quarter.



    Quarterly iPhone sales were 1,703,000.



    "We're delighted to report 43 percent revenue growth and the strongest March quarter revenue and earnings in Apple's history," said Apple chief executive Steve Jobs. "With over $17 billion in revenue for the first half of our fiscal year, we have strong momentum to launch some terrific new products in the coming quarters."



    "We're thrilled to have generated $4 billion in cash flow from operations in the first half of fiscal 2008, yielding an ending cash balance of $19.4 billion," added Apple chief financial officer Peter Oppenheimer. "Looking ahead to the third quarter of fiscal 2008, we expect revenue of about $7.2 billion and earnings per diluted share of about $1.00."



    Apple will conduct its Q2 2008 financial results conference call in about 30 minutes -- AppleInsider will provide full coverage.





    Terrific new products? There, Jobs said it again. Hmm, very interested.
  • Reply 6 of 33
    lorrelorre Posts: 396member
    OMGZ only 1.7million iPhones, let's watch the stock go below $100!



    Damn good quarter though, considering current state of the economy.
  • Reply 7 of 33
    nasseraenasserae Posts: 3,153member
    Quote:
    Originally Posted by Lorre View Post


    OMGZ only 1.7million iPhones, let's watch the stock go below $100!



    Damn good quarter though, considering current state of the economy.



    Thats only for up to March 6th. They are not counting iPhone sales between March 6th and 29th.
  • Reply 8 of 33
    mr. hmr. h Posts: 4,698member
    Quote:
    Originally Posted by AppleInsider View Post


    "We're thrilled to have generated $4 billion in cash flow from operations in the first half of fiscal 2008, yielding an ending cash balance of $19.4 billion,"





    Excellent. Maybe they really are saving up to buy Adobe! Adobe market cap = $19.59 billion right now according to yahoo finance.
  • Reply 9 of 33
    lkrupplkrupp Posts: 6,789member
    So Apple is still a computer company after all. I am pleased to know that.
  • Reply 10 of 33
    addaboxaddabox Posts: 12,660member
    Quote:
    Originally Posted by VisualZone View Post


    Terrific new products? There, Jobs said it again. Hmm, very interested.



    He says that every conference call. And, indeed, Apple invariably introduces new products "in the quarters to come."
  • Reply 11 of 33
    mr. hmr. h Posts: 4,698member
    Quote:
    Originally Posted by addabox View Post


    He says that every conference call. And, indeed, Apple invariably introduces new products "in the quarters to come."



    I look forward to the day when people stop posting things like:



    "OMFG! Steve Jobs said Apple are working on AMAZING products!!! OMFG! They must be incredible!"



    Come on people, they say it every single conference call/earnings announcement. Apple are hardly going to say "yeah, we're working on some middling/mediocre stuff right now"
  • Reply 12 of 33
    melgrossmelgross Posts: 31,472member
    Quote:
    Originally Posted by NasserAE View Post


    Thats only for up to March 6th. They are not counting iPhone sales between March 6th and 29th.



    They're counting sales. They're not counting income, and perhaps, revenue. That wasn't too clear, as I didn't listen to the actual call this time.
  • Reply 13 of 33
    melgrossmelgross Posts: 31,472member
    Quote:
    Originally Posted by Mr. H View Post


    I look forward to the day when people stop posting things like:



    "OMFG! Steve Jobs said Apple are working on AMAZING products!!! OMFG! They must be incredible!"



    Come on people, they say it every single conference call/earnings announcement. Apple are hardly going to say "yeah, we're working on some middling/mediocre stuff right now"



    Oh, come on H, we all know they'll be incredible. Amazing too! Even.
  • Reply 14 of 33
    bageljoeybageljoey Posts: 1,752member
    Quote:
    Originally Posted by Mr. H View Post


    "OMFG! Steve Jobs said Apple are working on AMAZING products!!! OMFG! They must be incredible!"




    Whooo Hooo! Thanks for the tip!
  • Reply 15 of 33
    mr. hmr. h Posts: 4,698member
    Quote:
    Originally Posted by melgross View Post


    Oh, come on H, we all know they'll be incredible. Amazing too! Even.



    That's my point.



    Some people seem to think that because the mighty Steve said the forthcoming products are amazing, they must be off-the-charts-pant-wettingly-mind-blowing. But that's not the case. Apple are always working on new products; they are always better than what Apple currently offer; Steve will always call Apple's product pipeline "amazing" or something to similar effect. Given that he unsurprisingly says that every 3 months, it's not something to get excited about.



    If he said something much more specific like "we are working on a brand-new product for a brand-new product category and the last time I saw it I had to lie down afterwards for thirty minutes because it was so awesome", now that would be something to get excited about.
  • Reply 16 of 33
    Quote:
    Originally Posted by Mr. H View Post




    Apple are always working on ...

    ... better than what Apple currently offer ...



    Good grief. You mean that, in the UK, you use the word "Apple" as a plural noun?

    Sure sounds strange on this side of the Atlantic.
  • Reply 17 of 33
    mr. hmr. h Posts: 4,698member
    Quote:
    Originally Posted by markspain View Post


    Good grief. You mean that, in the UK, you use the word "Apple" as a plural noun?

    Sure sounds strange on this side of the Atlantic.



    I guess "Apple is" would be better. My proof reading does get worse when I'm three hours past my bedtime. But you could argue that "Apple" can refer to Apple the entity/company, or Apple, the collection of its employees. I believe in the latter case that makes it a plural noun, but like I said I'm pretty tired so I could be writing nonsense.
  • Reply 18 of 33
    mactelmactel Posts: 1,275member
    Wow, I was right that they would be at 2.3 million Macs sold. This quarter we'll see 2.6 to 2.8 million.
  • Reply 19 of 33
    Quote:
    Originally Posted by Mr. H View Post


    That's my point.



    Some people seem to think that because the mighty Steve said the forthcoming products are amazing, they must be off-the-charts-pant-wettingly-mind-blowing. But that's not the case. Apple are always working on new products; they are always better than what Apple currently offer; Steve will always call Apple's product pipeline "amazing" or something to similar effect. Given that he unsurprisingly says that every 3 months, it's not something to get excited about.



    If he said something much more specific like "we are working on a brand-new product for a brand-new product category and the last time I saw it I had to lie down afterwards for thirty minutes because it was so awesome", now that would be something to get excited about.



    Perhaps some of us on this side of the Atlantic are simple and childlike, but I myself frequently get excited in the morning just by the prospect of sunrise and a fresh cup of coffee. My beagle always gets excited at the prospect of dry kibble, and I always get excited by new Apple products and Steve Jobs' genuine, contagious enthusiasm.
  • Reply 20 of 33
    mr. hmr. h Posts: 4,698member
    Quote:
    Originally Posted by delreyjones View Post


    Perhaps some of us on this side of the Atlantic are simple and childlike, but I myself frequently get excited in the morning just by the prospect of sunrise and a fresh cup of coffee. My beagle always gets excited at the prospect of dry kibble, and I always get excited by new Apple products and Steve Jobs' genuine, contagious enthusiasm.



    Don't get me wrong, I'm as excited as the next Apple fan to see Apple's forthcoming products, I'm just saying that there's no reason to get extra excited when Steve confirms what we already know.
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