Apple 2Q Revenue up 43 Percent
Apple 2Q Revenue up 43 Percent
by , 4:35 PM EDT, April 23rd, 2008
Apple managed to come in above estimates for its second fiscal quarter of 2008 by showing a 43 percent year-over-year increase in revenue at US$7.51 billion. The Mac, iPod and iPhone maker reported a net quarterly profit of $1.05 billion, well above the $770 million for the same quarter last year.
Apple shipped some 2.289 million Macs during the quarter, up 51 percent compared to last quarter, and up 54 percent compared to last year. It also reported 10.644 million iPods shipped during the quarter for a slim one percent quarterly growth rate, or eight percent annually. iPhone sales hit 1.703 million units for the quarter.
The quarter was another record breaker for Apple, and CEO Steve Jobs was more than happy to let investors know. "We're delighted to report 43 percent revenue growth and the strongest March quarter revenue and earnings in Apple's history," he said. "With over $17 billion in revenue for the first half of our fiscal year, we have strong momentum to launch some terrific new products in the coming quarters."
Wall Street's consensus leading up to the earnings announcement suggested Apple would report $6.95 billion in revenue, and 10.5 million iPods shipped for the quarter. Not only did The Street underestimate Apple's performance, but aggressive analysts like Citigroup's Richard Gardner came in under the mark, too. He predicted Apple would report $7 billion in revenue, along with 2.1 million Macs, 9.5 million iPods, and 1.5 million iPhones shipped.
Apple's stock is currently sitting at $163.05, up 2.69 (1.68%), in after hours trading.
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.
Observer Comments
Comments are currently closed. Please email the author instead.
Recent Headlines - Updated March 22nd
- Sun, 5:53 PM
- Apple Context Machine Podcast - ACM 165: Jerome York, the iPad and Media, iCon, & Bryan on the Road
- Fri, 5:55 PM
- Games - Namco Releases Match-Three Game Tinseltown Dreams to the App Store
- 5:16 PM
- News - iPad Launch Day Deadline for Developers: March 27
- 5:11 PM
- News - Steve Jobs Helps Promote Organ Donor Legislation
- 4:06 PM
- iPad - VIVmag Shows Off Interactive iPad Version in the Works
- 3:07 PM
- App Store - Microsoft Yanks Bing App From Foreign App Stores
- 2:05 PM
- iObserver - Analysts Downgrade Troubled Palm Amid Severe Revenue Drop
- 1:35 PM
- In-Depth Review - PhoneSuite MiLi Packs a Powerful Punch
- 1:11 PM
- News - YouTube to Viacom: Sue Yourself
- 11:34 AM
- Product News - PocketMac for BlackBerry 5 Improves Snow Leopard Support
- 10:59 AM
- News - Apple iGroups Patent Hints at Social Networking Plans
- 10:20 AM
- Hot Forum Topic - Reader Discussion: Who Will Buy Palm?
The Mac Observer Reader Specials
- TypeStyler For Mac OS X is Now Shipping! Download The Free Fully Functional 60 Day Tryout at www.typestyler.com
Mac Memory and Hard Drives: MacBook Pro Memory 8GB kits $349.99! iMac Memory 4GB DDR Kits for $109.99! Mac Pro Memory 4GB Kits for $135.99! Mac Hard Drives 1.5TB Seagate SATA II for $147.99! Click Here!
- CarMD Handheld Device & Mac/PC Software System saves you time and money on car maintenance and repair. Buy at www.CarMD.com! Save $10 with code TMO2.
If you're using a Mac, then you've gotta check out Full Tilt Poker for Mac. This Full Tilt Poker bonus code does the unthinkable, it actually rewards!For the latest Apple products use Ciao, a price comparison website, to find laptops like MacBook Air. Then find the best prices on MP3 players and use our comparison tool to evaluate mobile phones like the Apple iPhone.

