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Apple Exceeds Estimates: $6.22 Billion in Revenue, $904 Million in Profit [Update]

by , 4:55 PM EDT, October 22nd, 2007

Apple Inc. announced Monday fiscal 2007 4th quarter financial results of revenue of US$6.22 billion, with a profit of $904 million or $1.01 per share, blowing past consensus estimates of revenue of $6.05 billion with a profit of $.85 per share.

"We are very pleased to have generated over $24 billion in revenue and $3.5 billion in net income in fiscal 2007," Apple CEO Steve Jobs said in a statement. "We're looking forward to a strong December quarter as we enter the holiday season with Apple's best products ever."

"Apple ended the fiscal year with $15.4 billion in cash and no debt," Peter Oppenheimer, Apple's CFO, said. "Looking ahead to the first quarter of fiscal 2008, we expect revenue of about $9.2 billion and earnings per diluted share of about $1.42."

Apple shipped a record 2.164 million Macs, a 34% year-over-year gain, some 400,000 units higher than the previous record. Apple also sold 10.2 million iPods, a 17% year-over-year gain.

The company also announced it had sold 1.119 million iPhones during the quarter. For the fiscal year, Apple sold 1.389 million iPhones. The company has previously estimated it would sell 10 million iPhones by the end of calendar 2008, or the end of the December quarter of 2008.

The company's quarterly conference call begins at 5:00 PM Eastern, or 2:00 PM Pacific. The Mac Observer will carry full coverage of the 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.  

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.

[Update: Corrected a typo regarding Apple's iPhone sales goal for calendar 2008. - Editor]

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