Apple Sings a Happy Tune; $290 Million Q2 Profit on iPod Growth (UPDATE)
TMO Reports - Apple Sings a Happy Tune; $290 Million Q2 Profit on iPod Growth (UPDATE)
by , 4:30 PM EDT, April 13th, 2005
It was another successful quarter for Apple Computer, as the Mac and iPod maker exceeded estimates posting a net fiscal second-quarter profit of US$290 million, or 34 cents a share -- 10 cents better than the street estimate.
Revenue for the quarter was $3.24 billion, up 70% from the year-ago period of $1.91 billion. Gross margin was 29.8%, up from 27.8% in the year-ago quarter. International sales accounted for 40% of the quarter's revenue, the company said.
Analysts surveyed by Thomson First Call had forecast Apple to earn 24 cents a share on $3.21 billion in revenue. Apple predicted in January that it would earn 20 cents a share in the just-completed quarter, on $2.9 billion in sales.
During the same period a year ago, Apple earned $46 million, or 6 cents a share on $1.9 billion in revenue. The Q2 profit rose more than sixfold compared to a year ago.
As early as Wednesday afternoon, analyst Keith Bachman of Banc of America Securities warned clients that Apple had little room for surprise above $0.24 to $0.25 cents per share.
Apple said it sold 5.3 million iPods in the quarter-- at the high end of the most optimistic estimates. In the Christmas quarter, the company sold 4.6 million iPods, and only 807,000 iPods in the year-ago quarter.
As for Macs sales, the company said it shipped 1,070,000 CPUs during the period, representing a 43% jump from the quarter a year ago, when the company sold 749,000 Macs. In the December quarter, the company sold 1,046,000 Macs.
"We're very pleased to report 70% revenue growth and a 530% increase in net income," Peter Oppenheimer, Apple's chief financial officer, said in a prepared statement.
Apple stock (AAPL) closed down $1.62 on Wednesday, or 3.80% to $41.04 on volume of 42.15 million shares.
Apple forecasted earnings of 28 cents a share on $3.25 billion in sales for the current quarter. Analysts had previously forecast a profit of 24 cents a share on $3.21 billion in sales.
For fiscal year 2005, analysts are looking for $1.11 in per-share earnings on sales of $13.34 billion. Apple did not provide guidance for the full year.
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
- Mon,9:52 PM
- Apple Q4 Earnings Sliced And Diced
- 8:21 PM
- Apple Q4 MacBook Sales Hit Record Breaking Numbers, Jump 25 Percent
- 7:45 PM
- Here’s What Apple Wants to Achieve With Apple Pay
- 7:33 PM
- How Apple’s Tim Cook Explained Away Poor iPad Sales
- 6:31 PM
- Apple Store App Update Adds Apple Pay Support
- 5:59 PM
- China Holds Huge Potential for Apple with First Time iPhone Buyers
- 5:16 PM
- Apple Teases Future Plans for Beats
- 5:02 PM
- Apple Posts a Record September Quarter - $42.1 Billion Revenue, $8.5 Billion Earnings
- 4:45 PM
- How-to Set Up and Add Credit Cards to Apple Pay
- 1:32 PM
- TMO Daily Observations: 2014-10-20
- 1:19 PM
- Apple Releases iOS 8.1 With Apple Pay, iCloud Photo Library, Camera Roll, More
- 11:49 AM
- Spotify Announces Family Plans