Apple today announced financial results for its fiscal 2007 third quarter ended June 30, 2007. Apple posted revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share. These results compare to revenue of $4.37 billion and net quarterly profit of $472 million, or $.54 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent, up from 30.3 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter’s revenue.
Apple shipped 1,764,000 Macintosh computers, representing 33 percent growth over the year-ago quarter and exceeding the previous company record for quarterly Mac shipments by over 150,000. The company also sold 9,815,000 iPods during the quarter, representing 21 percent growth over the year-ago quarter. Apple did not release an exact number of iPhones sold. Apple stated the company sold 270,000 units of “iPhone (4GB and 8GB models combined) and related products and services” which “consists of iPhones and Apple-branded and third-party iPhone accessories” in less than two days of quarter.
“We’re thrilled to report the highest June quarter revenue and profit in Apple’s history, along with the highest quarterly Mac sales ever,” said Steve Jobs, Apple’s CEO, in the press release. “iPhone is off to a great start — we hope to sell our one- millionth iPhone by the end of its first full quarter of sales — and our new product pipeline is very strong.”
“We are very pleased to report strong financial results including cash flow from operations exceeding $1.2 billion for the quarter,” said Peter Oppenheimer, Apple’s CFO, in the press release. “Looking ahead to the fourth fiscal quarter of 2007, we expect revenue of about $5.7 billion and earnings per diluted share of about $.65.”
Apple will provide live streaming of its Q3 2007 financial results conference call utilizing QuickTime, Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PDT on Wednesday, July 25, 2007 here and will also be available for replay.
MacDailyNews Note: Analysts’ consensus estimates for Apple’s 3rd fiscal quarter expected revenue of $5.28 billion and net income of $645.6 million, or 72 cents per share, up from $472.0 million, or 54 cents per share, for the year-ago period. Apple CFO Peter Oppenheimer’s guidance for Q3 07 expected “revenue of about $5.1 billion and earnings per diluted share of about $.66.”
5:28pm EDT: In after-hours trading, APPL shares stand at $144.83, up $7.57 from their $137.26 closing price.
Apple’s recent earnings and unit sales information:
2007:
• Q3 (ended 06/30/07): revenue $5.41 billion, net profit $818 million, 1.764 million Macs, 09.815 million iPods
• Q2 (ended 03/07/07): revenue $5.26 billion, net profit $770 million, 1.517 million Macs, 10.549 million iPods
• Q1 (ended 12/30/06): revenue $7.10 billion, net profit $1 billion, 1.606 million Macs, 21.066 million iPods
2006:
• Q4 (ended 09/30/06): revenue $4.84 billion, net profit $546 million, 1.610 million Macs, 08.729 million iPods
• Q3 (ended 07/01/06): revenue $4.37 billion, net profit $472 million, 1.327 million Macs, 08.111 million iPods
• Q2 (ended 04/01/06): revenue $4.36 billion, net profit $410 million, 1.112 million Macs, 08.526 million iPods
• Q1 (ended 12/31/05): revenue $5.75 billion, net profit $565 million, 1.254 million Macs, 14.043 million iPods
2005:
• Q4 (ended 10/11/05): revenue $3.68 billion, net profit $430 million, 1.236 million Macs, 06.451 million iPods
• Q3 (ended 07/13/05): revenue $3.52 billion, net profit $320 million, 1.182 million Macs, 06.155 million iPods
• Q2 (ended 03/26/05): revenue $3.24 billion, net profit $290 million, 1.070 million Macs, 05.311 million iPods
• Q1 (ended 12/25/04): revenue $3.49 billion, net profit $295 million, 1.046 million Macs, 04.580 million iPods
2004:
• Q4 (ended 09/25/04): revenue $2.350 billion, net profit $106 million, 836,000 Macs, 02.016 million iPods
• Q3 (ended 06/26/04): revenue $2.014 billion, net profit $61 million, 876,000 Macs, 860,000 iPods
• Q2 (ended 03/27/04): revenue $1.909 billion, net profit $14 million, 749,000 Macs, 807,000 iPods
• Q1 (ended 12/27/03): revenue $2.006 billion, net profit $63 million, 829,000 Macs, 733,000 iPods
154 Comments
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Apple inks ‘preliminary chip-making agreement’ with Intel: A major step in American semiconductor revival
Apple and Intel have struck a preliminary agreement under which Intel will manufacture some of the chips that power Apple devices…
Apple’s U.S. Education Store discount now requires proof that you’re a student or teacher
Apple is tightening its education pricing program with a new verification process that officially rolls out in the United States today…
Apple shares hit new all-time intraday and closing highs
In Nasdaq trading today, shares of Apple Inc. rose to hit a new all-time closing high. Apple’s all-time intraday high was also set today…
Apple TV’s ‘The Dynasty: UConn Huskies’ set to premiere globally August 21st
Apple TV announced that the new three-part docuseries, “The Dynasty: UConn Huskies,” featuring the legendary University of Connecticut…
Apple pushes back against Canada’s encryption bill
In a move that underscores the growing friction between Silicon Valley and governments worldwide, Apple and Meta have formally…
Maybe it is better to read the actual transcript of the Apple conference?
On whether 270,000 iPhone shipments include those to AT&T stores, and how many were in inventory at the end of the quarter:
Yes, that includes the AT&T number. (Apple doesn’t answer the inventory question, exactly.)
270k iPhones it is! not iPhone and accessories. Financial analyists would have trounced Oppenheimer and Tim Cook if that was the case, even remotely the case.
http://blogs.business2.com/utilitybelt/2007/07/live-apple-fy-q.html
in the conference Tim Cook said Apple and AT&T sold 270,000 iPhones in the first 30 hours — AT&T told Apple it sold more iPhones sold in the first weekend than it had ever sold of any other wireless device during an entire month.
Again, 270k iPhones!
Will the idiots still trying to spout the idiotic FUD “nahhh, it is more 270 / 2 iPhone, the rest is earbuds”.
You trolls are never resting. Tools.
270k iPhones PLUS additional revenue from accessories sold together with those 270k iPhones! Probably the most profitable 30 hours ever, all markets confounded.
270,000 units sold. This number includes units of accessories. So maybe the actual number of iPhones sold is somewhat lower.
It doesn’t seem as if Apple are bragging about these numbers, but I didn’t listen to the conference call with financial analysts.
John
Sold a couple of options yesterday for a good profit (just in case earnings weren’t great) but kept a couple of options as well (just in case earnings *were* great), and also kept my stock (in at $65.7). Kicking myself for selling the options, but that’s human nature – seemed like a good idea at the time. If I kicked myself for every dumb thing I did, I’d have a very sore butt by now.
Regarding that Laura Goldman quote—and I don’t know if this is true—but I found this tidbit as one of the entries on http://www.popmatters.com/pm/comments/news/41455/
“Laura Goldman had a series of jobs on Wall Street but was thrown out of the US after a failed blackmail attempt against Thomas H Lee (the last in a long line of similar cases she brought) and she now runs LSG Capital from a seedy 2-room apartment in Tel Aviv. “Insightful”?? Yeah, right!”
Given how boneheaded her analysis of Apple and the iPhone was, it wouldn’t surprise me if this were true.
Looking forward to MDN quoting her once again tomorrow!
Just found this on http://www.percywalker.com
“…Laura Goldman was successfully charged with blackmail and false allegation against Thomas H Lee and was subsequenly barred from the US. She’d made other attempts to extort money under threat of false allegation against many others including Peter Kaplan and the entire management team at Paine Webber. All fact, all public record. Now she runs “LSG Capital” which is basically just her and run from her two-bit apartment in Tel Aviv from where she recently issued a sell call on Apple at the same time as it was making repeated record highs. This disgraced and deranged individual should not be given a voice on sites such as these.”
What a sad little woman she must be.
ONCE AGAIN FOR THE HARD-OF-HEARING, OR THE UNWILLING-TO-LISTEN!
The results announced yesterday included 270,000 iPhones and approximately $5M of revenue accruing from the iPhone and related accessories.
In fact, the $5M comes almost completely from accessories because all of the expenses for the 270,000 phones were accounted for in Q3 (possibly around $114 million) whilst only 1/8th of the income (let’s say $18.9 million) was realised in the period.
For around 40% of customers – the ones who are new to AT&T – Apple will start to realise genuine profit in the Q3 of FY2008, the others are all contributing profit by Q1 of 2009. If you ever wanted to know how Apple would exploit its mountainous pile of cash, you’re seeing it now – Apple is basically using that money, as well as the profit generated by the Mac and the iPod, as a financial “shock-absorber” for iPhone.
“Best stupid argument: ubiquity equals superiority. “
You see, you’re not listening to the argument. The argument is ubiquity equals success.
Just like telling your spouse that you would have done things better than the guy who actually implemented and made money from the idea, it doesn’t matter because you were not able to do anything significant with the idea.
In some other post you’ll be claiming that Apple’s domination of the mp3 market makes them geniuses and proves that the iPod is the best mp3 player ever.
Quotes from the call:
“The iPhone was on sale for the last 30 hours of the quarter ending June 30th. During the quarter we sold a total of 270,000 iPhones to AT&T and through our Apple retail stores; and 146,000 iPhones were activated by Apple and AT&T.”
The exact words were, “270,000 iPhones to TO AT&T and…”, 146,000 activated. That leaves 124,000 sitting in AT&T warehouses or in the hands of customers. it really doesn’t seem credible that about half the people who brought iPhones wouldn’t activate them, since you can’t do anything useful with your new toy until you do. So that means quites some stock sent out to AT&T (so can be booked as a sale) but which were not sold to customers those days. That’s a great way to juice up first weekend numbers.
“As a result, we have adopted subscription accounting for the iPhone handset sales and are recognizing the associated revenue and cost of goods sold over 24 months. “
here they clearly state they are recognising what it costs them to build and sell an iPhone (cost of goods sold for the laypeople like MCCFR) over 24 months.
“Total revenue recognized from iPhone and iPhone accessory sales during the June quarter was $5 million”
That means, MCCFR that they recognised for accounting purposes 5 million of revenue total from iPhones, not including that which comes from ATT, not that they sold 5 million dollars of accessories.
“deferred revenue related to iPhone and Apple TV sales was $180 million at the end of the June quarter”
Here they tell you exactly that they have another $180 million in revenue coming from the iPhones and Apple TVs already sold. Coincidentally this is $666 per iPhone sale claimed.
“However, there would have been some inventory in transit to AT&T at the end of the quarter.”
Clearly states some of those 270,000 iPhones “Sold” had been Sold by Apple to AT&T and were being shipped to AT&T.
With all that information, AT&T’s claim of 146,000 actually activated is not starting to sound unreasonable as about the number customers actually brought on those days.
First day of sales:
There are no activation problems la la la. They only affect a few people. la la la.
Day of AT&T activations announcement:
Massive activation problems are the reason for the apparently low number la la la.
We were talking leadership sweety, not success. Now I know why you’re slippery.
“Those people should really consider switching to a job they’re qualified for, like selling shoes.”
And you will know who they are.
“Yes, I would like a pair of these Keens”
“Wouldn’t you prefer the Buster Browns?”
“Well,I’m going canoeing”
“The BBs are cheaper! And everyone’s heard of them.”
“Do you really work here?”
The classic logic of the r for all to see.
Apple let’s loose the information that it sold 5 times more iPhones in a few days than Motorola sold Razrs in a month and the iPhone is somehow some kind of failure.
Idiots.
TowerTone: Hi, Welcome to the TowerTone shoe store, What are you looking for?
Customer: A pair of running shoes
TowerTone We have two kinds of running shoes here. They’re both made to exactly the same spec in exactly the same factories, but this one has a little Apple logo on it and costs twice as much.
Customer: Ill take the pair without the Apple logo.
TowerTone: But the Apple logo is so pretty, you really want the other pair.
Customer: No thanks, I’ll take the one without the logo.
TowerTone: But an Apple logo makes the shoes magical.
Customer: What?
TowerTone: Yes, even though they are in fact exactly the same as the other shoes, they’ll make you think that they’re much better shoes.
Customer: Just the ring up the normal shoes you freak.
BustingBrownSpots
Thanks for making my point.
When you say they are made exactly the same, then you show the lunacy of when things are NOT the same, and yet some people can’t tell the difference.
So, what was your point again?
“you show the lunacy of when things are NOT the same, and yet some people can’t tell the difference.”
But I do point out there is a difference, one has an Apple logo the other does not. Most people can see that’s all that’s different.
P.S. keep the boy grooming tips off this board you sicko.
Oh, yessir!!! Anything else I can do for you?
I guess I should go ahead and blindly apologize for offending some inner code of conduct that you have and that I have violated.
My God, what was I thinking, posting a semi-humorous response to Alansky’s post
“Let’s hear it for the lame-o nay sayers who predicted Apple’s earnings would fail to meet expectations this quarter. Those people should really consider switching to a job they’re qualified for, like selling shoes.”
Thank you for setting me straight, and helping the world.
BTW, who the fuck are you? And, also, who do you think you are?
“blindly apologize for offending some inner code of conduct”
Setting you “straight” would be helping you to stop the boy buggering.
Most people, not just me find that offensive.
Got it! Thanks again.
I guess I have some explaining to do to my girlfriend.
Wow, I didn’t even know myself!
What gave it away? Canoeing? Or using a Mac?
And which one of these, that your mother doesn’t allow, made you jealous?
BTW, would you happen to be a shoe salesman? That would explain a lot…….
Speaking of offensive, I think we all know who and what “BustingBrown” is. Very sad, angry and lonely.
“I guess I have some explaining to do to my girlfriend.”
No, just explaining posts you’ve made on other Internet sites.
OK, such as…….
MW:start
@ A Nameless Dickweed
“Setting you “straight” would be helping you to stop the boy buggering. Most people, not just me find that offensive.”
Most girls don’t seem to have a problem with it. Gay boys are keen on it as well, but I’m guessing you don’t consider them ‘people’.
“No, just explaining posts you’ve made on other Internet sites.”
Stalking TowerTone, are we? That’s kinda gay.