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Apple's Insanely Great Quarter: 3.05 Million Macs, 7.4 Million iPhones Sold
Posted Oct 19, 2009 05:41pm EDT by John Paczkowski in Investing, Internet, Media, Networking and Communication, Software and Services
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.
More coverage from All Things Digital:
35 Comments
frankmargel.com - Monday October 19, 2009 06:05PM EDT
Hey Gang! Who bet against Apple anyway? Just curious...later.
alan - Monday October 19, 2009 06:05PM EDT
Once again, Apple blows the doors off!!!! . I can't wait until the end of their 1st 1/4. I expect them to go gangbusters for Xmas. I just think it is about time they gave some of the excess cash back to the stockholders in the way of dividends or some other form.
Robert - Monday October 19, 2009 06:05PM EDT
Nice going Apple! Now how about that 4 for 1 stock split I've waiting on....
Bick - Monday October 19, 2009 06:29PM EDT
I'm a big fan of Cramer. But when he said wait for the selloff after earnings before buying, I knew you had to buy before earnings instead. $200 is now support rather than resistance. All aboard.
Rich - Monday October 19, 2009 06:32PM EDT
Hey Robert ~~ Hopefully, maybe a stock split is in the near future so some of us who "missed the boat" can get in at a better entry point ??
Patrick - Monday October 19, 2009 06:33PM EDT
this android thing is hype and dream pipe. By then it will be cooler to have a iPhone. dont underestimate the brand
Rich - Monday October 19, 2009 06:34PM EDT
Hey Robert ~~ Hopefully, maybe a stock split is in the near future so some of us who "missed the boat" can get in at a better entry point ??
ThomasY - Monday October 19, 2009 06:51PM EDT
I can't believe this quarter,( but idid buy more).
Michael - Monday October 19, 2009 06:55PM EDT
To support cramer, he told you to buy it like 4 weeks ago when the accounting rule was gonna be changed. so yeah cramer said it was a buy before and reinstated that you should buy tomorrow just in case it fell lower on earnings also if it would have fallen and he told you to buy it today you probably would have called him a a$$ for telling you buy it before earnings.
Michael - Monday October 19, 2009 06:55PM EDT
To support cramer, he told you to buy it like 4 weeks ago when the accounting rule was gonna be changed. so yeah cramer said it was a buy before and reinstated that you should buy tomorrow just in case it fell lower on earnings also if it would have fallen and he told you to buy it today you probably would have called him a a$$ for telling you buy it before earnings.
Yahoo! Finance User - Monday October 19, 2009 06:56PM EDT
barack hussein obama will NOT let this stand.. mmm mmm mmm this is NOT good for obama's goal of SOCIALISM.... soon barack hussein obama will send in his goons and thugs to destroy apple... BOOK it.. until then, the DOW is up so the ECONOMY IS BOOMING.. don't need no stinkin jobs.. go out and buy and spend.. buy properties and flip em.. mmm mmm mmm.... oh, don't forget to stay tuned to the next obama STASH give away.. obama STASH soon comin to your city.. mmm mmm mmm.. dream what you will buy with your $250 BUCKOS MMM MMM MMM
yattaboy - Monday October 19, 2009 07:05PM EDT
I use a MacBook Pro for everything now. It was a bit of an investment, but I know why Apple is making $$. I can run XP and MS office on a partition, but I cannot stand it anymore. I actually used to like XP. But, you never know when a decent company or product will be beta-maxed. Apple will have to watch their prices because at the end of the day, there's always going to be a larger market segment for $500 laptops with Win7 than $1300 laptops with Snow Leopard. But I don't think I could ever go back to PC now.
Maureen - Monday October 19, 2009 07:08PM EDT
Take it from a nurse.... an APPLE a day well you get it
Polski - Monday October 19, 2009 07:13PM EDT
Is there a saturation point of Supply and Demand where the Market will not only flatten, but drop. Reference: Mini, Maxi, Long, Short, high waist, Low waist, the buyer get fed-up! Look for fudged figures?
Yahoo! Finance User - Monday October 19, 2009 07:27PM EDT
And the tablet hasn't even launched yet. This is what happens when a company actually innovates instead of bullying, copying, and focusing only on price. Another example...Google. Take that Microsoft and Dell!
Simon - Monday October 19, 2009 08:21PM EDT
Imagine how many more iPhones they would have sold had they not limited themselves to crappy/overpriced AT&T. I wonder how many of those were iPhones that had been jailbroken to run on other networks like T-Mobile....I would love to buy the iPhone but I refuse to pay the premium for crappy/overpriced AT&T, until then I'll stick to my BlackBerry on Sprint!
Nick - Monday October 19, 2009 08:58PM EDT
Cramer is the biggest buffoon on TV. He is constantly wrong. You all forget just in March he went on public TV and declared everyone should pull their money from stocks and not reinvest for 5 years. So if you listened to his ego driven stupidity you would have sold at the bottom of the market. As for Apple my only concern is Steve's health. Apple is all him. He is a genius in every sense and companies can not train a genius he would be replaced by some bureaucrat. However Apple is exceptional and immune for economics. Yes if there is a correction Apple will correct. However its hard for any company to maintain this type of momentum.
artist52 - Monday October 19, 2009 09:22PM EDT
The reason Apple's sales are up is because so many Microsoft users are so fed up with what happened with Service Pack 3 that they will never buy another Microsoft product. Two computers in my home were destroyed by the idiots at Microsoft and they refuse to take responsiblitity. I know a lot of other people who feel this is the last straw where this company is concerned. I will never buy anything from that greedy company again. I plan on buying two Macs by the end of the year. In the meantime I will pull out my old copy of Billy Killer and shoot Bill Gates head off the screen. By the way I've gotten to the point where I never miss. Bill Gates thought he was too big to be touched but when you make as many consumers as angry as he has it will make a dent in his profits. Of course all he thinks about is his profits not keeping his customers happy. Not so smart are you Bill?
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beachbum242 - Monday October 19, 2009 05:57PM EDT
Cramer said wait till tomorrow to buy Apple. Think how smart he would have been to have said buy this today before the close.