Apple profits rise 15% on sales of 2.2M Macs, 11M iPods
Apple said Wednesday that second-quarter profits rose more than 15 percent to $1.21 billion, or $1.33 per diluted share, on record non-holiday quarter sales of $8.16 billion for the three-month period ended March 28, 2009.
These results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. Gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter. International sales accounted for 46 percent of the quarter's revenue.
Apple sold 2.22 million Macintosh computers during the quarter, representing a three percent unit decline from the year-ago quarter. The company also sold 11.01 million iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 3.79 million representing 123 percent unit growth over the year-ago quarter.
"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Apple chief financial officer Peter Oppenheimer. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet."
Looking ahead to the third fiscal quarter of 2009, Apple said it expects revenue in the range of about $7.7 billion to $7.9 billion and diluted earnings per share in the range of about $.95 to $1.00."
In accordance with the subscription accounting treatment required by GAAP, Apple recognizes revenue and cost of goods sold for iPhone and Apple TV over their estimated economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures for the quarter are $9.06 billion of "Adjusted Sales" and $1.66 billion of "Adjusted Net Income."
Apple will provide live streaming of its Q2 2009 financial results conference call utilizing QuickTime. The live webcast will begin at 2:00 p.m. PST today. AppleInsider will provide full coverage.
These results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. Gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter. International sales accounted for 46 percent of the quarter's revenue.
Apple sold 2.22 million Macintosh computers during the quarter, representing a three percent unit decline from the year-ago quarter. The company also sold 11.01 million iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 3.79 million representing 123 percent unit growth over the year-ago quarter.
"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Apple chief financial officer Peter Oppenheimer. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet."
Looking ahead to the third fiscal quarter of 2009, Apple said it expects revenue in the range of about $7.7 billion to $7.9 billion and diluted earnings per share in the range of about $.95 to $1.00."
In accordance with the subscription accounting treatment required by GAAP, Apple recognizes revenue and cost of goods sold for iPhone and Apple TV over their estimated economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures for the quarter are $9.06 billion of "Adjusted Sales" and $1.66 billion of "Adjusted Net Income."
Apple will provide live streaming of its Q2 2009 financial results conference call utilizing QuickTime. The live webcast will begin at 2:00 p.m. PST today. AppleInsider will provide full coverage.
Comments
unbelievable and in a down economy, talk about momentum, i think ATT has a few more gifts for SJ to extend the contract.
WOW
I love how they word that ... sounds so formidable! I can't help envisioning a boardroom in some exotic volcano-lair, as Oppenheimer greets investors via video-chat: "Good evening gentlemen"...
Jimzip
Get well Steve.
How can Apple manage to sell this many stupid (or not so stupid) mp3 players in a saturated market is just beyond me...and I'm a Apple fanboi.
Especially with one of the most stupid products Apple ever made - the new shuffle! (According to Techstud & many other pundits)
Bloody murder!!!
Excellent sales for an excellent product.
Sure feels like these guys have a killer surprise up their sleeves still.
Even if they don't have a surprise up their sleeves, their smoothing out of their revenue stream with the iTunes store and App Store (in the form of continual impulse sales) has paid off handsomely.
What's interesting is that analysts spent a lot of time tracking Mac numbers during the quarter and pretty much nailed the number....2.22 million. But they totally missed the iPhone number by a wide margin. Even iPods went up. Apple's overall gross margins at 36.4% are just stupid ridiculous for a company that sells computer hardware in this day and age.
Apple is pretty much the envy of its competitors right now. Only Cisco has a comparable bank account. In a time where everyone is pulling back, Apple is stepping on the gas.
Obviously, though. It's Apple, after all.
Products people actually WANT.
We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history,
Oh, and yet another record.
Holiday, or non-holiday, Apple shines.
"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history,"
Not bad Abramsky, not bad.
Oh~~~ Microsoft please end your miserable Zune line, quick. For there is no hope.
How can Apple manage to sell this many stupid (or not so stupid) mp3 players in a saturated market is just beyond me...and I'm a Apple fanboi.
Especially with one of the most stupid products Apple ever made - the new shuffle! (According to Techstud & many other pundits)
Bloody murder!!!
Stupid or not, right now they have an untouchable line-up and business model.
Normally these would be "ok" or "expected" numbers but considering the economic meltdown, Apple is still crushing it where it counts...on the balance sheet.
What's interesting is that analysts spent a lot of time tracking Mac numbers during the quarter and pretty much nailed the number....2.22 million. But they totally missed the iPhone number by a wide margin. Even iPods went up. Apple's overall gross margins at 36.4% are just stupid ridiculous for a company that sells computer hardware in this day and age.
Apple is pretty much the envy of its competitors right now. Only Cisco has a comparable bank account. In a time where everyone is pulling back, Apple is stepping on the gas.
It's what SJ said years ago:
Innovating your way out of the recession.
Oh, and these are numbers WITHOUT Steve Jobs in his usual role. Imagine the confidence this inspires.
Oh~~~ Microsoft please end your miserable Zune line, quick. For there is no hope.
How can Apple manage to sell this many stupid (or not so stupid) mp3 players in a saturated market is just beyond me...and I'm a Apple fanboi.
Especially with one of the most stupid products Apple ever made - the new shuffle! (According to Techstud & many other pundits)
Bloody murder!!!
You're clearly, grossly, unequivocally, out of touch with the market.
Stop thinking of yourself, the world doesn't revolve around you. The Shuffle is a game-changer, just like the iPhone, the Touch, you name it.
The bulk of the market does NOT comprise people like you and me. Technophiles who post in tech message forums. It's all about the average user and what's good for them. And you know what, there's a lot to be said for being the average user. Life is easy when it comes to tech.
Haha- Love it- as I expected, the good old iPod (Touch) saves the day.
Excellent sales for an excellent product.
Actually what you expected was
Lackluster number$ would not be surprising
Is there a particular medical reason that you spout crap all of the time?