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Apple posts second quarter profit of $3.07 billion

Posted on Wednesday, April 21 2010 @ 18:30:21 CEST by


Apple announced a fiscal 2010 second quarter profit of $3.07 billion, or $3.33 per share, on revenue of $13.50 billion. This compares to revenue of $9.08 billion and a net profit of $1.62 billion, or $1.7 per share, in the same quarter a year ago.

The iPhone did extremely well with a 131 percent growth in sales to 8.75 million units, while iPod sales declined by 1 percent to 10.89 million units. Apple also sold 2.94 million Mac computers during the quarter, a 33 percent unit increase over the year-ago quarter.

Wall Street analysts expected the company would report earnings of $2.45 per share on revenue of $12.02 billion. Thanks to the much better than anticipated financial results and a positive outlook, Apple shares hit a new high of $260.25, an increase of over 6 percent compared to yesterday.
Apple® today announced financial results for its fiscal 2010 second quarter ended March 27, 2010. The Company posted revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share. These results compare to revenue of $9.08 billion and net quarterly profit of $1.62 billion, or $1.79 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent, up from 39.9 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.

Apple sold 2.94 million Macintosh® computers during the quarter, representing a 33 percent unit increase over the year-ago quarter. The Company sold 8.75 million iPhones in the quarter, representing 131 percent unit growth over the year-ago quarter. Apple sold 10.89 million iPods during the quarter, representing a one percent unit decline from the year-ago quarter.

“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent,” said Steve Jobs, Apple’s CEO. “We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year.”

“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Peter Oppenheimer, Apple’s CFO.



 



 

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