“After recalculating the last two years of Apple’s (AAPL) earnings to reflect the true revenue and earnings from iPhone sales (non-GAAP), I have found Apple’s real growth rate to be absolutely stunning. For full year 2008, Apple’s revenues totaled $39,038 billion compared with $28,339 billion during full year 2007. This represents 38% revenue growth year over year,” Jason Schwarz reports for Seeking Alpha.
“Profit growth rates are even better. Net income for full year 2008 came in at $7,054 billion compared to $4,722 billion in 2007 resulting in 49% year over year earnings growth,” Schwarz reports.
“Apple ended the year with $28.1 billion in cash compared to $18.4 billion in cash last year for an amazing cash growth rate in 2008 of 53%! For the quarter, Apple grew earnings at 16% and grew revenue at 9%,” Schwarz reports.
Schwarz writes, “The great Ronald Reagan once said that ‘there are no such things as limits to growth, because there are no limits to the human capacity for intelligence, imagination, and wonder.’ And so it is for Apple.”
Full article here.
