Apple Announces Best Non-Holiday Quarter Ever; Sells 8.75 Million iPhones In Q2
Apple has posted record revenue of $13.50 billion and net quarterly profit of $3.07 billion for its fiscal 2010 second quarter ended March 27, 2010.
Apple sold 8.75 million iPhones in the quarter, up 131 percent over the year-ago quarter, which has helped Apple post its best non-holiday quarter ever.
Apple sold 2.94 million Macs during the quarter, up 33 percent unit over the year-ago quarter. Apple also sold 10.89 million iPods during the quarter, representing a one percent decline over the year-ago quarter.
Apple’s CEO, Steve Jobs said:
“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent. 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.”
Below are some of the estimates made by analysts on how many iPhones Apple will sell in the second quarter (from CNNMoney):
|Analyst, affiliation||iPhones (millions)||Date of est.|
|Turley Muller, Financial Alchemist||7.85||4/12/2010|
|Daniel Tello, Deagol's AAPL Model||7.5||4/12/2010|
|Peter Misek, Canaccord Adams||7.5||4/9/2010|
|Mike Abramsky, RBC Capital||7.5||4/16/2010|
|Gene Munster, Piper Jaffray||7.5||4/8/2010|
|Maynard Um, UBS||7.5||4/7/2010|
|Alexis Cabot, Apple Finance Board||7.5||4/12/2010|
|Ashok Kumar, Rodman & Renshaw||7.5||4/13/2010|
|Robert Paul Leitao, Apple Finance Board||7.45||4/12/2010|
|Bill Shope, Credit Suisse||7.41||4/8/2010|
|Mark Moskowitz, J.P. Morgan||7.35||4/12/2010|
|Toni Sacconaghi, Bernstein Research||7.3||4/14/2010|
|Chris Whitmore, Deutsche Bank||7.3||4/5/2010|
|Jeff Fidacaro, Susquehanna Financial||7.2||4/5/2010|
|Ben Reitzes, Barclay's Capital||7.2||4/13/2010|
|Yair Reiner, Oppenheimer||7||4/5/2010|
|Kathryn Huberty, Morgan Stanley||7||4/12/2010|
|Patrick Smellie, Apple Finance Board||7||4/12/2010|
|Doug Reid, Thomas Weisel||6.91||4/12/2010|
|Keith Bachman, BMO Capital||6.9||3/25/2010|
|Tavis McCourt, Morgan Keegan||6.8||4/5/2010|
|Scott Craig, Merrill Lynch||6.74||3/5/2010|
|Shaw Wu, Kauffman Bros.||6.5||4/9/2010|
|Brian Marshall, Broadpoint AmTech||6.2||4/11/2010|
|Richard Gardner, Citigroup||6||4/12/2010|
As you can see Apple has beaten analyst estimates by a huge margin.
Wall Street seems to really like the results. Apple's stock went up by over $19.00 (~8%) per share in after hours trading, and is currently trading at approximately $259.00 up approximately $14.50 (~6%).
Apple will be holding its Q2 conference call at 5:00 EDT today. You can listen to the audio webcast of Apple’s conference call here.
It will be interesting to see if someone will asks Apple about the next gen iPhone leak. We’ll update this post with coverage of the conference call highlights.
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