14 DAY TRIAL // During yesterday’s conference call, Apple reported adjusted earnings of $3.33 per share, cruising past the consensus Wall Street numbers with total revenues of $13.5 billion – some $700 million above even the most optimistic predictions, while gross margins are up to 41.7 percent, from 39.9 percent reported in the year-ago quarter. An excerpt from Apple’s official announcement can be found below.
“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.”
The company’s executives reported sales of 2.94 million Macintosh computers during the quarter. The number represents a 33-percent unit increase over the year-ago quarter. Apple’s revolutionary iPhone sold another 8.75 million units just this past quarter alone – a 131-percent unit growth, while iPods sold 10.89 million units, representing a one-percent unit decline from the year-ago quarter. Apple’s executives said earlier they would expect iPod sales to surge, due, in part, to iPhone demand.
“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent,” Steve Jobs, Apple’s CEO, said. “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,” Peter Oppenheimer, Apple’s CFO, stated.