Apple Posts Non-Holiday Record Quarter: $8.3 Billion Revenue, $1.23 Billion Profit

| Apple Stock Watch

Apple announced yet another non-holiday record quarter Tuesday for the June quarter, the company's fiscal 3rd quarter. Apple reported revenue of $8.34 billion, up 11.7% from the year ago quarter of $7.46 billion. The company turned in profits of $1.23 billion, or $1.35 per share, ahead of analyst expectations.

The company also turned in gross margins of 36.3%, ahead of guidance the company offered in its last conference call. Analysts had expressed concerns over guidance in the face of price reductions on MacBook Pros and iMacs.

Apple uses subscription accounting for its iPhone and Apple TV businesses, recognizing revenue from those products over a two year period, rather than all at once, a procedure required under GAAP rules. Its non-GAAP revenue -- i.e. the money raised just this quarter from sales of those devices -- would have been $9.74 billion with a profit of some $1.94 billion.

For the quarter, Apple sold 2.6 million Macs, a 4% year-over-year increase when analysts were expecting Mac sales to fall year-over-year. iPod unit sales were down, however, at some 10.2 million units, a decline of 7% compared to Q3 in 2008.

iPhone sales clocked in at 5.2 million units, a massive 626% increase over the year before, but that increase should be tempered by the different product release schedules of the iPhone 3G, which began shipping in Q4 of 2008, and the iPhone 3GS, which began shipping in Q3 of 2009.

"We're making our most innovative products ever and our customers are responding," Apple CEO Steve Jobs said in a statement. "We're thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year."

Cash flow for the quarter represented some $2.3 billion, and CFO Peter Oppenheimer said in a statement that he expects his company to report $8.7 billion and earnings per share between $1.18 and $1.23.

Shares in AAPL traded lower Tuesday, closing at $151.51 per share, down $1.399 (-0.91%), on moderately strong volume of 27.98 million shares trading hands. Shares are up in fter-hours trading at $156.50 per share, a rise of $4.99 (+3.29%).

Apple will provide live streaming of its Q3 2009 financial results conference call beginning at 2:00 PM PDT (5:00 PM EDT). The Mac Observer will offer additional coverage of that conference call.

*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.  

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7 Comments Leave Your Own

Lee Dronick

“ahead of analyst expectations”

As usual

jfbiii

I think “analyst expectations” are more accurately described as “analyst excretions.”

gslusher

Why don’t analysts learn? They should take whatever their “analysis” shows and add 10-15%—or, they should quit and get real jobs and leave the analysis to Andy Zacky.

Khaled

nice,
it’s a shame Apple don’t publish regional numbers :(

Lee Dronick

t?s a shame Apple don?t publish regional numbers

Yes, it would be interesting to see where they are strong and where they are not.

CityGuide

it?s a shame Apple don?t publish regional numbers

Given the varied distribution and support channels Apple uses, what kind of useful information could be derived from regional sales numbers?

Khaled

I’m curious to how Apple middle east numbers look like for example.
MDS group owned ABM isn’t really sharing any info.

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