Earnings: Apple Revenue Up 37 Percent; Income Up 31 Percent; Estimates Beat, But Outlook Light
This story was written by Joseph Weisenthal.
Here's the quick figures from the just-released earnings report from Apple: the maker of computers, iPods and iPhones announced quarterly revenue of $7.46 billion, compared to estimates of $7.37 billion and year-ago revenue of $5.41 billion, for growth of 37 percent. Net income came to $1.07 billion ($1.19 per share), compared to estimates of $1.08 per share and last year's income of $818 million, for growth of 31 percent.
In terms of units, the company shipped 2.5 million Mac computers, representing 41 percent unit growth and 11 million iPods, 11 percent more than in the year-ago quarter. It also sold 717,000 iPhones in the quarter, though the number was low due to the release of the then-impending iPhone 3G launch. The company says music-related services revenue was $881 million compared to $819 million a year ago. This includes iTunes Music Store revenue, though it also includes stuff like iPod accessories.
Apple (NSDQ: AAPL) tends to have a very cautious attitude towards guidance, but for the next quarter it's calling for sales of $7.8 billion and EPS of $1.00. That's significantly lower than estimates of $8.3 billion in revenue and EPS of $1.24? Just the usual conservatism? We'll get more color on the call.Shares are slipping over three percent after hours, in what's become a common trend. There's nothing in the release about the early numbers on the iPhone 3G. Again, expect that to be a big topic.
Release | Webcast (5:00 PM ET, requires Quicktime)
By Joseph Weisenthal