Apple Reports Amazing Second Quarter Results

Although Apple was expected to have a good quarter, nobody was expecting their results to be this good. The company’s financial results for its fiscal 2007 second quarter were nothing short of amazing, especially considering all the factors that should have been slowing them down.

Apple posted revenue of $5.26 billion and net quarterly profit of $770 million, or $.87 per diluted share, quite a step up from revenue of $4.36 billion and net quarterly profit of $410 million, or $.47 per diluted share, in the year-ago quarter.
Apple managed to ship 1,517,000 Macintosh computers and 10,549,000 iPods during the quarter, seeing a significant 36 percent growth in Macs and 24 percent growth in iPods over the year-ago quarter. Better yet, the company said that International sales accounted for 43 percent of the quarter’s revenue.

"The Mac is clearly gaining market share, with sales growing 36 percent—more than three times the industry growth rate," said Steve Jobs, Apple’s CEO. "We’re very excited about the upcoming launch of iPhone in late June, and are also hard at work on some other amazing new products in our pipeline."

So far, Apple is continuing its trend of under –promising and over-delivering, and it looks like the next quarter will be no exception. The company bested even the most optimistic of predictions regarding this quarter, even the most hardened Apple fans are impressed. "We are very pleased to report the most profitable March quarter in Apple’s history," said Peter Oppenheimer, Apple’s CFO. "Looking ahead to the third fiscal quarter of 2007, we expect revenue of about $5.1 billion and earnings per diluted share of about $.66."

With the iPhone on its way and other Apple products that will undoubtedly get revisions, the next quarter promises to be even better.

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