Apple beats the street
January 22nd 2008
Apple has announced that it posted revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compare to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, up from 31.2 percent in the year-ago quarter.
"We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks."
International sales accounted for 45 percent of the quarter's revenue.
Apple shipped 2,319,000 Macs, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The company sold 22,121,000 iPods during the quarter, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone sales were 2,315,000.
Wall Street Journal reports Apple expects earnings of 94 cents a share on revenue of $6.8 billion next quarter--a disappointment for investors. As of this writing, AAPL tumbled $17.34 in after-hours trading to $138.30.
Editor's note: Just over the Street's consensus estimate for last quarter, but well below expectations for next. So much for $600 per share any time soon...
What's your take?
