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04-20-2010, 05:23 PM #1
Apple: Profits up 89.5%
Apple: Profits up 89.5%
Posted by Philip Elmer-DeWitt
April 20, 2010 4:52 PM
iPhone sales climb 131% year over year. Shares rocket over 17 points in after-hours trading
Source: Company reports
Apple (AAPL) blew past even the most optimistic estimates Tuesday, reporting second-quarter earnings of $3.33 per share on $13.50 billion revenue.
Its net quarterly profit was $3.07 billion, up nearly 90% from the same quarter last year.
Wall Street was anticipating earnings of $2.45 per share on revenue of $12.04 billion, according to a survey of analysts by Thomson Financial.
Apple shares, after a record-high opening, closed Tuesday at $244.59 a share, down 2.48 points (1%) for the day. The stock leaped more than 17 points (7%) in after-hours trading to set new all-time highs of more than $260 a share.
"We're thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent," said Steve Jobs in a prepared statement. "We've launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year."
Here are the numbers:
•Total sales: $13.5 billion, up 48.6% year over year
•Earnings: $3.33 per share. up 86%
•Profit: $3.07 billion, up 89.5%
•Mac sales: 2.94 million units, up 33%
•iPhone sales: 8.75 million units, up 131%
•iPod sales: 10.89 million units, down 1%
•iPod touch sales: up 66%; iPod revenue up 12%
•Apple store visitors: 47 million in 286 retail outlets, up 20%
•Gross margin: 41.7%, up from 39.9% last year
•Guidance for the second fiscal quarter: revenue between $13 and $13.4 billion, EPS between $2.28 and $2.39
Apple's press release is available here.
A replay of the conference call will be available for the next two weeks, starting at 5 p.m. PT. Dial 888-203-1112; the passcode is 5473920. Seeking Alpha is expected to post a transcript overnight.
http://tech.fortune.cnn.com/2010/04/20/ ... -jumps-89/NO AMNESTY
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