Apple posts profit of $1.07B, ships nearly 2.5 million Macs

Posted:
in General Discussion edited January 2014
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.
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Comments

  • Reply 1 of 27
    MacProMacPro Posts: 19,471member
    Jeeeez! I wish they'd start paying dividends
  • Reply 2 of 27
    walshbjwalshbj Posts: 864member
    I'm long -- and it feels good.
  • Reply 3 of 27
    dimmokdimmok Posts: 359member
    Cha-ching!
  • Reply 4 of 27
    mbene12mbene12 Posts: 42member
    the forward looking numbers concern me greatly. They project higher revenues (400M) and yet the earnings per share dels 17% ?!?! WTF . Some major write off or aquisition they haven't announced yet?
  • Reply 5 of 27
    jeffdmjeffdm Posts: 12,951member
    I guess this "economic downturn" didn't hurt Apple like the Naysayers predicted.
  • Reply 6 of 27
    solsunsolsun Posts: 763member
    Quote:
    Originally Posted by AppleInsider View Post


    Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter.





    ]



    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?
  • Reply 7 of 27
    johnqhjohnqh Posts: 242member
    I would love AAPL to drop to $150, so I can put all my idle cash into it.
  • Reply 8 of 27
    solsunsolsun Posts: 763member
    Quote:
    Originally Posted by johnqh View Post


    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..
  • Reply 9 of 27
    mrjoec123mrjoec123 Posts: 223member
    Quote:
    Originally Posted by digitalclips View Post


    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.
  • Reply 10 of 27
    Quote:
    Originally Posted by digitalclips View Post


    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.
  • Reply 11 of 27
    minderbinderminderbinder Posts: 1,703member
    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.
  • Reply 12 of 27
    chris_cachris_ca Posts: 2,543member
    Quote:
    Originally Posted by mrjoec123 View Post


    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?
  • Reply 13 of 27
    nceencee Posts: 857member
    Quote:
    Originally Posted by minderbinder View Post


    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!
  • Reply 14 of 27
    solipsismsolipsism Posts: 25,726member
    Quote:
    Originally Posted by ncee View Post


    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.
  • Reply 15 of 27
    anantksundaramanantksundaram Posts: 20,304member
    Quote:
    Originally Posted by ncee View Post


    WTF? Where does one go to see after hours trading trends?



    Ignore. (Already answered above).
  • Reply 16 of 27
    slcossioslcossio Posts: 13member
    "and we're busy finishing several more wonderful new products to launch in the coming months"



    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...
  • Reply 17 of 27
    minderbinderminderbinder Posts: 1,703member
    finance.yahoo.com has after hours numbers listed on individual stock pages.
  • Reply 18 of 27
    lkrupplkrupp Posts: 9,988member
    Quote:
    Originally Posted by ncee View Post


    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.
  • Reply 19 of 27
    jeffdmjeffdm Posts: 12,951member
    Quote:
    Originally Posted by mrjoec123 View Post


    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.
  • Reply 20 of 27
    SpamSandwichSpamSandwich Posts: 33,407member
    Overall, a great bit of news for us AAPL owners, and it bodes well for upcoming product releases also. The one thing that remains the great unknown is Jobs' health...
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