“This morning’s rally centered on Microsoft, which beat the street and issued an earnings forecast topping estimates after yesterday’s closing bell. Shares of Microsoft jumped 3% in early trading this morning but ended the day about 1% down,” Matt Egan reports for Fox Business Network. “The company said its revenue jumped 30% from a year ago.”
“The importance of Microsoft’s positive earnings announcement comes from the lackluster performance and warnings from other tech giants in recent weeks, including chipmaker Intel and Apple,” Egan reports.
Full article, Think Before You Click™, here.
MacDailyNews Take: Sometimes you just have to laugh at the sheer stupidity and utter incompetence on display. These people get jobs, folks. Other people – presumably even stupider and more incompetent people – actually pay them. It never fails to amaze. What’s next, Matt, are you going to report that the sky is pink, water isn’t wet, and that you’ve just been accepted into Mensa?
Apple on Tuesday announced record financial results for its fiscal 2008 first quarter ended December 29, 2007. The Company posted record revenue of $9.6 billion and record net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compared to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter.
Apple easily beat the street’s estimates of $9.47 billion in revenue and $1.62 per share.
Apple shipped a record 2,319,000 Macintosh computers, representing 44% unit growth and 47% revenue growth over the year-ago quarter. The Company sold a record 22,121,000 iPods during the quarter, representing five percent unit growth and 17% revenue growth over the year-ago quarter. Quarterly iPhone sales were a record 2,315,000.
“We’re thrilled to report our best quarter ever, with the highest revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO, in the earnings announcement.
“Apple’s revenue grew 35% year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter’s record-breaking results,” said Peter Oppenheimer, Apple’s CFO, in the press release. “Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $0.94.”
Apple’s Q2 08 guidance is 29.3% over the company’s Q2 07 posted revenue of $5.26 billion.
On which planet is 35% YOY revenue growth less than 30%?