Apple earnings shatter company record
updated 05:15 pm EST, Tue January 22, 2008
Apple's record earnings
Apple today reported record breaking earnings that soared above all previous quarterly results, marking the best three-month period for the Cupertino-based company since its inception in 1976. "We're thrilled to report our best quarter ever, with the highest revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks."
The company raked in $9.6 billion in revenue for a net quarterly profit of $1.58 billion, beating out its 2006 December quarterly revenue by nearly $2.5 billion and besting the year-ago quarter's net profit by $580 million.
Apple's record results were spurred by swelling international sales which accounted for 45 percent of the quarter's revenue, as well as a surge in Mac and iPod shipments.
"Apple's revenue grew 35 percent year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter's record-breaking results," said Apple CFO Peter Oppenheimer. "Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion."
The company is guiding investors conservatively as usual during the coming quarter, with expected revenue of about $6.8 billion and earnings per diluted share of around $0.94. Apple said it is guiding gross margin down sequentially due to an expected decline of software sales and seasonality, as the company's March quarter is historically much slower than the prior December quarter which includes sales from the holidays.
I'm glad.......
01/22, 06:27pm reply
.....Steve was "thrilled" when he announced Apple's successful quarter earlier today because in after hours stock trading, he lost more on his Apple stock than I'll make in several lifetimes. And, yes, as a stock holder, I lost, too. Time to tell my kid to start looking at 2nd tier college choices.
Guest
Fresh-Faced Recruit
Joined: Nov 1999
not really
01/22, 07:22pm reply
Actually guest, its time to buy more stock. This is a great buying chance. By the end of the year the stock should be $250 or better. Hey, thats almost a 90% increase. Try and get that from a bank. :-)
Eldernorm
Fresh-Faced Recruit
Joined: Sep 2007
profit takers
01/22, 07:41pm reply
The record earnings are probably the result of the sell-off. People taking the money and run. That's how people in that business work. It like betting on a horse in one race, and not caring what happens in future races. If you are a loyal holder in the midst of this stock drop, the answer is clear: buy more stock while it is down.
anthology123
Dedicated MacNNer
Joined: Nov 2000
re: eldernorm
01/23, 07:10am reply
By the end of the year the stock should be $250 or better. Hey, thats almost a 90% increase.
Hey eldernorm, you seem pretty confident of that, do you want to underwrite my investment? or maybe you might have heard that their might just be the mother of all recessions just around the corner...
chucker
Fresh-Faced Recruit
Joined: Mar 2007
@chucker
01/23, 02:33pm reply
i won't underwrite your investment, chucker, but i did put my money where my mouth is and bought 40 shares @ $130 today, which turned out to be today's bottom. Could be different tomorrow.
So many people just don't get it... when stocks dive down, it's the time to buy not the time to sell, unless you're a short-termer/day trader. Think of it like getting 25% off something you really wanted to buy.
It would be another thing if Apple was a troubled company, but it's far, far from that. It's got a lot of things going for it and if you've thought of buying AAPL before, you'd be a fool not to take advantage of the buying opportunity right now.
BTW I can think of at least three instances over the last 12 months where AAPL dove down and then shortly thereafter (a few weeks later), soared.
climacs
Fresh-Faced Recruit
Joined: Sep 2001
already up $7.50
01/23, 03:48pm reply
over where I bought it this AM. Yippee!
(until tomorrow when it crashes down again LOL)
climacs
Fresh-Faced Recruit
Joined: Sep 2001