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Apple 1st Quarter Financial Results Ping!
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Posted on 01/18/2011 4:07:29 PM PST by Swordmaker
Apple today announced financial results for its fiscal 2011 first quarter ended December 25, 2010. The Company posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter. Gross margin was 38.5 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
Apple sold 4.13 million Macs during the quarter, a 23 percent unit increase over the year-ago quarter. The Company sold 16.24 million iPhones in the quarter, representing 86 percent unit growth over the year-ago quarter. Apple sold 19.45 million iPods during the quarter, representing a seven percent unit decline from the year-ago quarter. The Company also sold 7.33 million iPads during the quarter.
“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs, Apple’s CEO. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”
“We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.”
Apple will provide live streaming of its Q1 2011 financial results conference call beginning at 2:00 p.m. PST on January 18, 2011 here. As usual, MacDailyNews will provide live notes of the conference call (traffic is heavy, so thank you in advance for your patience!)
Analysts' consensus estimates called for $5.38 EPS on revenue of $24.38 billion (vs. Q110 results of $3.67 EPS on revenue of $15.68 billion). On October 18, 2010, Apple CFO Peter Oppenheimer provided the following guidance: “Looking ahead to the first fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $4.80.”
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Better mousetrap is better
Their 2010 gross revenue is about one-fourth the cost of the Department of Education for the same year.
If only I'd bought AAPL back in the 90's when I had some scratch... woulda coulda shoulda.... *sigh*
Jobs or no Jobs, it looks like Apple has a lot of record-shattering quarters ahead of them.
So.... HOW many iPads did they sell last year? lol
Those kind of earnings put them on track for $500 per share in a few months. Pretty amazing.
About 14,500,000 iPads since April.
When Steve announces that he's not returning to Apple, or it is announced that he's gone to the Great Mac in the Sky, THEN there will be a dip that will take a while to level out. But level out it will.
God willing, Jobs will have have enough time to pass the baton successfully, and the transition will be finished while he's alive.
I can’t believe how many PC people at my office have bought their first Apple product this year ... iPads and iPhones.
Yours is the kind of exuberant talk that emerges at tops.
My brother told me on the phone recently that his IT dept had given the green light for him to “go to the dark side” and buy a Mac. My guess is the Enterprise money is only getting started.
I think you are absolutely correct about that. And when the iPhone and iPad are firmly established in the enterprise, Macs will be next on the purchase list.
The market as a whole is a chimera, held up by manipulation and borrowed money. But Apple's growth, production and sales are very real, and worth something. There are only a few companies that we can say that about anymore, but when it happens, enjoy it, don't try to knock it down just because you are feeling curmudgeonly.
That’s the upside potential that I talk about in post 16, which has not fully been factored in yet. The IT guys, and the brass in big companies, are buying iPhones and iPads and are buying into the Apple hype. I think a slow move of Enterprises towards Apple products could well become a torrent over the next 5 years.
Would that be Geek Heaven or the Great Computer Landfill in the Sky?
Because of the barely noticable blip on the stock yesterday and today I have changed my mind about that day in the future. Now I don't think they will be affected at all.
> Would that be Geek Heaven or the Great Computer Landfill in the Sky?
Not entirely sure, but this much I know... It's really shiny, and has a giant Apple Logo.
> Because of the barely noticable blip on the stock yesterday and today I have changed my mind about that day in the future. Now I don't think they will be affected at all.
In the long term, I agree. I do think there will be a significant drop that lasts maybe a couple months. The recovery will be the next big product announcement, and everybody breaths a sigh of relief and says, "Ok, Apple can still do cool stuff without Jobs in charge."
Well, not quite -everybody-. Ballmer is waiting impatiently for Jobs to die, so that Apple will die (he thinks). The crowning irony of all this would be if Ballmer goes monkeyboy chair-throwing again some day and dies of a heart attack, and Jobs is still around. Jobs is too classy to piss on Ballmer's grave; sadly, the reverse is not true: Ballmer is a classless pig. I don't wish ill of either of them, but I'm a lot sicker of Ballmer's antics than of Jobs'.
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