Apple Boosts Revenue Thanks to iPhone; Mac Unit Sales Decline 3%

| Apple Stock Watch

Apple posted what the company called its best non-holiday quarter in history...in the middle of a recession that was supposed to penalize the premium-brand company. Apple announced revenue of US$8.16 billion and profits of $1.21 billion ($1.33 earnings per share (EPS)). iPhone unit sales were more than double that of the year-ago quarter, while Mac sales declined 3% year-over-year.

All told, Apple sold 3.79 million iPhones, 123% more than the March quarter of 2008. The company moved 11 million iPods, 3% more than in the year-ago quarter, while Mac sales came in at 2.22 million units, representing a 3% decline.

Unit sales, revenue, and earnings are all at the high end of the bullish analysts, and Apple claimed it was the best non-holiday quarter in its history.

"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," Apple CFO Peter Oppenheimer said in a statement. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00."

That guidance is in the range that Barclay's analyst Ben Reitzes expected the company to offer, guidance he characterized would be Apple's "usual conservative" range.

The company is providing a streaming webcast of the conference call for those who want to listen in.

Shares in AAPL threw off early gains to close down at $121.51 per share, a loss of $0.25 (-0.21%), on strong volume of 30.3 million shares trading hands. The stock is up in after hours trading, at $124.77 per share, up $3.26 (+2.68%).

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

Comments

Lee Dronick

Well that is great news!

Tiger

3% down and still the best non-holiday quarter. In a bear economy.

Ain’t nothin’ wrong with that.

Bryan Chaffin

Aye, it was an amazing quarter for Apple. Now who was that analyst downgrading Apple because they were going to have to crop their prices to compete with netbooks?

It makes me laugh. smile

Bryan
Editor
TMO

Tiger

Of course, if Apple comes out with a netbook, it will be the iTableu.

tongue laugh

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