Apple obliterates Street with record quarterly earnings

invisibleSHIELD case for iPadApple today announced financial results for its fiscal 2010 second quarter ended March 27, 2010. The Company posted revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share. These results compare to revenue of $9.08 billion and net quarterly profit of $1.62 billion, or $1.79 per diluted share, in the year-ago quarter. Gross margin was 41.7 percent, up from 39.9 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.

Apple sold 2.94 million Macintosh computers during the quarter, representing a 33 percent unit increase over the year-ago quarter. The Company sold 8.75 million iPhones in the quarter, representing 131 percent unit growth over the year-ago quarter. Apple sold 10.89 million iPods during the quarter, representing a one percent unit decline from the year-ago quarter.

“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent,” said Steve Jobs, Apple’s CEO, in the press release. “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.”

“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Peter Oppenheimer, Apple’s CFO.

Apple will provide live streaming of its Q2 2010 financial results conference call beginning at 2:00 p.m. PDT on April 20, 2010 at www.apple.com/quicktime/qtv/earningsq210/.

MacDailyNews will provide live notes of Apple’s Q2 2010 conference call.

MacDailyNews Note: Just prior to Apple’s earnings release, analysts’ consensus estimates called for Apple to report $2.45 EPS on $12.04 billion in revenue. Trading in Apple shares was halted just prior to the earnings release and are scheduled to resume trading at 4:50 pm EDT.

38 Comments

  1. Wait a sec…

    Last week Google had a record quarter of over 16 Billion and MDN said it was a bad quarter… Apple has 13 Billion and its a stellar quarter… Right. LMAO

    Only 8.7 million iPhones? Only 2.9 million Macs with a refresh? Doesn’t sound STELLAR to me…

    Google outperformed Apple IMO… ” width=”19″ height=”19″ alt=”smile” style=”border:0;” /> Enjoy the weak numbers of Apple quarter…

  2. Observations …

    Fiscal 2009 Total Revenue: $36.54 billion
    Fiscal 2010 First 2 Qtrs Revenue: $29.18 billion

    Fiscal 2009 Total Profit: $2.82 billion
    Fiscal 2010 First 2 Qtrs Profit: $6.45 billion

    iPhone 2010 Holiday quarter: 8.7 million units
    iPhone 2010 March quarter: 8.75 million units

    Crushing. The. Ball.

  3. I was expecting these stellar results.
    Soon Apple will surpass MS in revenues.
    However, I was not expecting this phrase from Steve:
    “… we have several more extraordinary products in the pipeline for this year.”
    What are these products? Just new Macs, iPod and iPhone?
    Maybe something totally unexpected? Let the rumor machine begin!

  4. Munster lost all credibility!

    Update: Apple’s stock, trading of which was temporarily halted for the earnings release, immediately leapt by over $19.00 (~8%) per share upon the resumption of trading, and is currently up approximately $17.00 (7%).

  5. @The Dude: Thank’s AAPL, I can retire now.

    I’m with you, man! I will always remember my stock broker in 1997 telling me Apple was too risky. “The P/E is too high.” That’s all he could ever say. I’m having the last word.

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