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Apple Announces Best Non-Holiday Quarter Ever; Sells 8.75 Million iPhones In Q2

April 20th, 2010 04:45 admin Leave a comment Go to comments

Apple Results

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.

[via Apple]

Source: Apple Announces Best Non-Holiday Quarter Ever; Sells 8.75 Million iPhones In Q2

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