While Google boasted their earnings last week and rightly so, Apple breaks its own records of past earnings. The iGadgets Company announced their own earnings for their Q3 period which were grand.
Apple set several new records in terms of both revenues and sales. Most notably, Apple’s revenue was a staggering $28.57 billion — over $5 billion ahead of their (always low) guidance, and almost $4 billion ahead of the $24.92 billion that Wall Street had been expecting. What’s perhaps craziest about those numbers is that they’re a new record for the company, and it comes in a non-holiday quarter (typically the best for consumer electronics companies). Apple’s last holiday quarter earnings, Q1 2011, saw revenues of $26.7 billion.
As for some other key numbers, Apple saw net quarterly profit come in at $7.31 billion — also a new record, by a long shot (last holiday quarter was $6 billion). Earnings per share were $7.79, far, far ahead of the $5.03 EPS guidance, and way ahead of the $5.80 Wall Street had been looking for.
Apple sold 20.24 million iPhones in the quarter, a new record. The Street had been hoping to see sales around 16.5 million. The iPad numbers were just as bright, with 9.25 million units being sold. Wall Street had been looking for 7.8 million there. The iPad sales were also basically double what they were last quarter.
One slight dim spot were Mac sales, which came in at 3.95 million, And, as expected, iPod sales continue to fall. Apple sold 7.54 million for the quarter, which was down 20 percent year-over-year.
Apple CEO Steve Jobs gave the following statement in the release:
“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”
Wall Street is obviously reacting very favorably to these results. Apple’s stock just surged past $400 a share in after-hours trading. My Exxon prediction is looking better each day.
Apple CFO Peter Oppenheimer’s guidance for next quarter is $25 billion in revenue and EPS of $5.50. In other words, Apple fully expects to breeze through those as well.
