Apple profits surge 77% on record sales of 4.1M Macs, 16.2M iPhones, 7.3M iPads

Posted:
in AAPL Investors edited January 2014
Apple said Tuesday that first quarter profits rose more than 77% to $6 billion, or $6.43 per diluted share, driven by record sales in three of its four major product categories, helping the electronics giant smash Wall Street's consensus estimates yet again.



The Cupertino-based company also posted record revenue of $26.74 billion for the three-month period ended December 25, 2010, or more than $2 billion above consensus estimates, as independent analyst and AppleInsider contributor Andy Zaky predicted. The results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter.



Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The company also sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. iPod sales during the quarter totaled 19.45 million, representing a seven percent unit decline from the year-ago quarter, while iPad sales came in at 7.33 millionunits.



?We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,? said Apple Chief Executive Steve Jobs. ?We are firing on all cylinders and we?ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can?t wait to get their hands on.?



Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter?s revenue.



?We couldn?t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,? said Peter Oppenheimer, Apple?s CFO. ?Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.?



Apple will provide live streaming of its Q1 2011 financial results conference call beginning at 2:00 p.m. PST. AppleInsider will have full coverage.
«13

Comments

  • Reply 1 of 42
    nagrommenagromme Posts: 2,834member
    What was the consensus estimate?



    EDIT: I found $24.31 billion by Googling, although the source wasn’t any big name.
  • Reply 2 of 42
    Not only does that blow away analyst forecasts, it beats even the most bullish amateur's estimates.



    Look for AAPL to sink tomorrow
  • Reply 3 of 42
    Boo-ya!
  • Reply 4 of 42
    Quote:
    Originally Posted by nagromme View Post


    What was the consensus estimate?



    From an earlier AI article:



    Analyst Mark Moskowitz of JP Morgan has weighed in with an earnings expectations report that expects "Apple to beat our above-consensus revenue and EPS estimates of $24.778 billion and $5.38," noting that "the Street consensus is at $24.226 billion and $5.34."
  • Reply 5 of 42
    Quote:
    Originally Posted by nagromme View Post


    What was the consensus estimate?



    Quote:
    Originally Posted by andy zaky


    Wall street Analysts polled by Thomson Reuters expect Apple to post $5.38 in earnings per share (EPS) on approximately $24.38 billion in revenue.



    Bloggers are looking for Apple to post $6.32 in earnings per share (EPS) on approximately $26.4 billion in revenue.



    Quote:
    Originally Posted by Apple press release


    The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share.



    .....
  • Reply 6 of 42
    This and the fact that Jobs is staying on with Disney should more than makeup for the loss today.

    Go AAPL!
  • Reply 7 of 42
    Quote:
    Originally Posted by nagromme View Post


    What was the consensus estimate?



    Quote:
    Originally Posted by john galt View Post


    Not only does that blow away analyst forecasts, it beats even the most bullish amateur's estimates.



    Look for AAPL to sink tomorrow



    Consensus street estimates were for $24.38 billion in revenue and $5.38 in EPS. Crushed.



    The most bullish amateur's estimates were as high as $27.80 billion in rev and $6.61 EPS. Not met. Still...



    Source: http://tech.fortune.cnn.com/2011/01/...nings-preview/
  • Reply 8 of 42
    Quote:
    Originally Posted by nagromme View Post


    What was the consensus estimate?



    EDIT: I found $24.31 billion by Googling, although the source wasn’t any big name.



    Here's EPS



    Apple's forecast: $4.80

    Consensus: $5.38

    Bloggers: $6.32

    Bullish Cross (Andy Zaky): $6.29

    Actual EPS: $6.43



    They knocked it out of the park again.



    Here's Andy Zaky's forecast.
  • Reply 9 of 42
    That's what happens when you sell a tiny mac mini for $700
  • Reply 10 of 42
    MacProMacPro Posts: 18,352member
    AAPL close to Fridays close in after hours trading. Hope this keeps up. I grabbed a few hundred more early this a.m. when they tanked.
  • Reply 11 of 42
    MacProMacPro Posts: 18,352member
    redacted
  • Reply 12 of 42
    Quote:
    Originally Posted by digitalclips View Post


    Hope not!



    You're dreamin'. Steve's health was factored in over a year prior. The company continues to explode in markets.
  • Reply 13 of 42
    Just you wait 'til the Win7 phone takes off! Apple will be dead meat. iPod sales falling like a rock. The Zune will live again!
  • Reply 14 of 42
    MacProMacPro Posts: 18,352member
    Quote:
    Originally Posted by mdriftmeyer View Post


    You're dreamin'. Steve's health was factored in over a year prior. The company continues to explode in markets.



    I have total faith! I was replying to John Galt's post, sorry not the article. I added more AAPL this a.m. I am so confident.
  • Reply 15 of 42
    Quote:
    Originally Posted by digitalclips View Post


    AAPL close to Fridays close in after hours trading. Hope this keeps up. I grabbed a few hundred more early this a.m. when they tanked.



    Good for you! I couldn't get the price I wanted (that's been happening a lot recently)
  • Reply 16 of 42
    Quote:
    Originally Posted by OldMacGuy View Post


    Just you wait 'til the Win7 phone takes off! Apple will be dead meat. iPod sales falling like a rock. The Zune will live again!



    You forgot to end your comment with /sarcasm .
  • Reply 17 of 42
    d-ranged-range Posts: 396member
    Wow, these profits really are mind-boggling. I know how great most Apple products are so I'm not surprised they do well, but the fact that they have so much traction in so many markets really is phenomenal.



    With the $2 billion higher profits than people expected alone Apple could already easily cover a full year of significantly lower profit margins of selling the iPad 2 with a 3 times more expensive ultra high-res screen, without even having to increase the retail price compared to the current model. Of course things aren't as simple as that, but with the money like running water, if I were in charge, I'd be inclined to just say 'what the heck, just do it and let the competition bite the dust'
  • Reply 18 of 42
    Nearly a 20% beat on EPS. Very impressive.
  • Reply 19 of 42
    icarbonicarbon Posts: 196member
    Dammit, I can't believe I panic-sold 125 shares at 327 (god only knows how I got hosed so badly -- the order went through in a hole this AM).



    oh well, paid 16/share, so I should cry too loudly.
  • Reply 20 of 42
    pmzpmz Posts: 3,433member
    That's a lot of iPads for one quarter. Safe to say 2010 total iPad sales destroyed even the most liberal initial estimates.
Sign In or Register to comment.