Apple announces stellar second quarter earnings
Estimates, shmestimates. Apple reported adjusted earnings of $3.33 per share, blowing past the consensus Wall Street numbers. Total revenues were $13.5B. That's more than $700 millon above even the most optimistic predictions. Gross margins up to 41.7 percent, from 39.9 percent a year ago.
We're listening in on the conference call right now, and Apple is reporting remarkable sales across the board. Apple is reporting their highest quarter of iPhone sales ever, with 8.75 million iPhones sold in the last quarter, the best sales during the same period ever. Additionally, iPod touch sales are up 63% year over year, and Apple has kept a hold on 70% of the mp3 player market, with 10.9 million iPods sold in the last quarter.
iTunes is also a profit machine, churning out $1.1 billion in revenue. 185,000 apps are now available, and there have been over four billion downloads on those apps for iPhone and iPod touch. We'll have more information forthcoming as the call carries on, but it appears that Apple is continuing to impress with their sales and reach in the market.
Apple Reports Second Quarter Results
Record March Quarter Revenue and Profit
iPhone Sales More Than Double
CUPERTINO, California-April 20, 2010-Apple® today announced financial results for its fiscal 2010 second quarter ended March 27, 2010. The Company posted revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share. These results compare to revenue of $9.08 billion and net quarterly profit of $1.62 billion, or $1.79 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent, up from 39.9 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter's revenue.
Apple sold 2.94 million Macintosh® computers during the quarter, representing a 33 percent unit increase over the year-ago quarter. The Company sold 8.75 million iPhones in the quarter, representing 131 percent unit growth over the year-ago quarter. Apple sold 10.89 million iPods during the quarter, representing a one percent unit decline from the year-ago quarter.
"We're thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent," said Steve Jobs, Apple's CEO. "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."
"Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39," said Peter Oppenheimer, Apple's CFO.
