Apple posts profit of $1.07B, ships nearly 2.5 million Macs
Apple said Monday that third-quarter profits rose more than 30 percent to $1.07 billion, or $1.19 per diluted share, on sales of $7.46 billion for the three-month period ended June 28, 2008.
These results compare to revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarter's revenue.
Apple shipped 2,496,000 Macintosh computers during the quarter, representing 41 percent unit growth and 43 percent revenue growth over the year-ago quarter. The Company sold 11,011,000 iPods during the quarter, representing 12 percent unit growth and seven percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 717,000 compared to 270,000 in the year-ago-quarter.
"We're proud to report the best June quarter for both revenue and earnings in Apple's history," said Apple chief executive Steve Jobs. "We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we're busy finishing several more wonderful new products to launch in the coming months."
"We're extremely pleased with the growth of our business and the generation of almost $5.4 billion in cash in the first three quarters of fiscal 2008," added chief financial officer Peter Oppenheimer. "Looking ahead to the fourth quarter of fiscal 2008, we expect revenue of about $7.8 billion and earnings per diluted share of about $1.00."
Apple will conduct its Q3 2008 financial results conference call in about 30 minutes -- AppleInsider will provide full coverage.
These results compare to revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarter's revenue.
Apple shipped 2,496,000 Macintosh computers during the quarter, representing 41 percent unit growth and 43 percent revenue growth over the year-ago quarter. The Company sold 11,011,000 iPods during the quarter, representing 12 percent unit growth and seven percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 717,000 compared to 270,000 in the year-ago-quarter.
"We're proud to report the best June quarter for both revenue and earnings in Apple's history," said Apple chief executive Steve Jobs. "We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we're busy finishing several more wonderful new products to launch in the coming months."
"We're extremely pleased with the growth of our business and the generation of almost $5.4 billion in cash in the first three quarters of fiscal 2008," added chief financial officer Peter Oppenheimer. "Looking ahead to the fourth quarter of fiscal 2008, we expect revenue of about $7.8 billion and earnings per diluted share of about $1.00."
Apple will conduct its Q3 2008 financial results conference call in about 30 minutes -- AppleInsider will provide full coverage.
Comments
Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter.
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This figure may cause a short term sell off... Yeah, I know, I know, phenomenal quarter, but analysts don't like to see gross margin drop.
EDIT: Although, it also depends on what Apples stated guidance would be for gross margin. Anyone recall what that was?
I would love AAPL to drop to $150, so I can put all my idle cash into it.
That's not smart investing.. Never put all of your eggs in one basket..
Jeeeez! I wish they'd start paying dividends
Dividends are for companies that don't know what to do with their excess cash. I'd much rather Apple continue investing in R&D and buying other companies that can help expand the business and profit margins even further.
Jeeeez! I wish they'd start paying dividends
Really? And then pay taxes on the income instead of investing in the very same company that gave you that money? What are you going to do with the money that is going to make more money than apple can do with it? Have you seen the rest of the stock market. Dismal returns.
Dividends are the reason why short term speculation send good companies in to a tail spin financially and inhibit longterm growth. The zombie response - MUST GIVE STOCK OWNERS DIVIDEND.... is the wrong incentive for the company and its stock holders.
...I too have stock in AAPL.
I'll have to see how it does tomorrow, looks like it may be a decent buying opportunity.
And "several" additional new products? I wonder if he's finally coming around to a midtower? No question it would sell, especially in this economy.
Dividends are for companies that don't know what to do with their excess cash. I'd much rather Apple continue investing in R&D and buying other companies that can help expand the business and profit margins even further.
So what is Apple doing with their $19.45 billion in cash on hand?
The media is reporting this as "disappointing" and the stock is down about 5% in after hours trading.
I'll have to see how it does tomorrow, looks like it may be a decent buying opportunity.
And "several" additional new products? I wonder if he's finally coming around to a midtower? No question it would sell, especially in this economy.
WTF? Where does one go to see after hours trading trends?
Disappointing!!! These folks won't be happy until Apple rules / owns and re-does the world, and makes it a better place!
WTF? Where does one go to see after hours trading trends?
Disappointing!!! These folks won't be happy until Apple rules / owns and re-does the world, and makes it a better place!
Google Stock lists after hours trading in real time, but you have to enable that feature.
WTF? Where does one go to see after hours trading trends?
Ignore. (Already answered above).
I know Im supposed to be happy about this but... why couldn't they say "in the coming days" or "in the coming weeks" haha, oh, well... still happy...
WTF? Where does one go to see after hours trading trends?
Disappointing!!! These folks won't be happy until Apple rules / owns and re-does the world, and makes it a better place!
It's called greed and gluttony and shareholders have plenty of both to go around.
Dividends are for companies that don't know what to do with their excess cash. I'd much rather Apple continue investing in R&D and buying other companies that can help expand the business and profit margins even further.
Exactly what is Apple doing with that $20B in liquid assets that they have? It doesn't sound like they necessarily know what to do with their excess cash. I realize a lot of that is invested, but it seems like they could reinvest that in the company and get better returns.