In after-hours trading, shares of Apple Inc. (AAPL) rocketed up $9.64, or 5.53% to hit $184.00 on heavy after-hours volume of 6,937,312 shares.
[UPDATE: 5:45pm EDT: AAPL shares are currently up $13.39, or 7.68%, to $187.75 on extremely heavy after-hours trading volume of 12,804,135 shares.]
Apple today bulldozed Street expectations, announcing record financial results for its fiscal 2007 fourth quarter ended September 29, 2007. The Company posted revenue of $6.22 billion and net quarterly profit of $904 million, or $1.01 per diluted share. These results compare to revenue of $4.84 billion and net quarterly profit of $542 million, or $.62 per diluted share, in the year-ago quarter. Gross margin was 33.6 percent, up from 29.2 percent in the year-ago quarter. International sales accounted for 40 percent of the quarter’s revenue.
Apple shipped 2,164,000 Macintosh computers, representing 34 percent growth over the year-ago quarter and exceeding the previous quarterly record for Mac shipments by 400,000. The Company sold 10,200,000 iPods during the quarter, representing 17 percent growth over the year-ago quarter. Quarterly iPhone sales were 1,119,000, bringing cumulative fiscal 2007 sales to 1,389,000.
Ahead of earnings, analysts’ consensus estimates, as surveyed by Thomson Financial, were for Apple will earn $0.86 per share on $6.07 billion in revenue for the quarter, compared to a profit of $0.62 per share on $4.84 billion in revenue in the year ago quarter.
Apple guided above Wall Street expectations for Q1 08: Apple sees revs of $9.2 billion and earnings of about $1.42 per share. The Street consensus was for $8.58 billion in revenue and earnings of $1.39 per share.
MacDailyNews Note: “I am putting a sell on Apple, the company that created the iPhone,” Laura Goldman, investment advisor, LSG Capital, May 21, 2007. AAPL closed at $111.98 that day. At $184, Apple has risen over 64% since Goldman’s “sell” recommendation.