Apple's Insanely Great Quarter: 3.05 Million Macs, 7.4 Million iPhones Sold

From All Things Digital, Oct. 19, 2009:

Apple’s September quarter saw, among other things, the release of Snow Leopard, the latest upgrade to its OS X operating system andthe first public appearance of CEO Steve Jobs, who’d been on a medical leave of absence for a liver transplant. It was also the first full period since the company launched the iPhone 3GS, in late June.

No wonder it was a blowout quarter.

After market close Monday, Apple reported a fiscal fourth-quarter profit of $1.67 billion, or $1.82 a share, on revenue of $9.87 billion. That topped the estimates of analysts surveyed by Thomson Reuters, who’d expected the company to earn $1.42 a share on revenue of $9.2 billion.

The company sold 3.05 million Macs during the quarter, a 17 percent increase over last year. It sold 10.2 million iPods, eight percent decline from a year-ago quarter.

And iPhones? It sold 7.4 million of those — seven percent more than it did during the same period last year. So much for those supply-chain issues that some analysts warned might undermine iPhone sales.

“We are thrilled to have sold more Macs and iPhones than in any previous quarter,” said Steve Jobs, Apple’s CEO. “We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.” [Editor's Note: "...really great new products"--is that a euphemism for tablet?]

Apple shares, which closed at $189.86 today, are spiking as I write this. At $203.90 they’re up more than seven percent in extended trading as I write this.

Looking ahead to its fiscal first quarter, Apple estimates it will earn between $1.70 and $1.78 a share on revenue in a range of $11.3 billion to $11.6 billion. That’s comically lower than the $1.91 a share on $11.45 billion in sales that analysts are forecasting. But as today’s results clearly demonstrate, Apple subscribes to the underpromise-and-over-deliver school of guidance theory, so there’s likely little cause for concern.

So, to recap: Apple sold more Macs and more iPhones than in any previous quarter in the company’s history. Before the holiday quarter. And in midst of the worst economy we’ve seen in 50 years.

NOTES FROM THE EARNINGS CALL:

Apple COO Tim Cook and CFO Peter Oppenheimer are handling the earnings call. CEO Steve Jobs will not be attending.

Oppenheimer says this was Apple’s second-highest revenue ever. Highest ever operating margin. “We are thrilled with these record-breaking results, particularly given the economic environment around us.”

Macs are showing “fantastic momentum,” says Oppenheimer. Sales have outpaced the market in 19 of the past 20 quarters. Quarterly sales up 17 percent. Portable sales were up 35 percent. Interesting: 42 percent growth in Asia.

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