Apple today announced financial results for its fiscal 2012 second quarter ended March 31, 2012. The Company posted quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion, or $12.30 per diluted share. These results compare to revenue of $24.7 billion and net profit of $6.0 billion, or $6.40 per diluted share, in the year-ago quarter. Gross margin was 47.4 percent compared to 41.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
The Company sold 35.1 million iPhones in the quarter, representing 88 percent unit growth over the year-ago quarter. Apple sold 11.8 million iPads during the quarter, a 151 percent unit increase over the year-ago quarter. The Company sold 4 million Macs during the quarter, a 7 percent unit increase over the year-ago quarter. Apple sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter.
“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO, in the press release. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”
“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO, in the press release. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”
Apple will provide live streaming of its Q2 2012 financial results conference call beginning at 2:00 p.m. PDT on April 24, 2012. MacDailyNews will cover the call with live notes in our next article (see home page).
Analysts’ consensus estimate called for $10.04 a share on revenue of $36.8 billion according to Thomson Reuters I/B/E/S. Analysts also expected around 30 million iPhones and 13 million iPad units to be sold. Analysts’ expectations for gross margins were around 43%.
In after-hours trading at 4:47pm EDT, AAPL is up $39.22 to $599.50.
MacDailyNews Take: Boom!
And all of the faux “concern” evaporates until next time while the SEC remains fast asleep.
I think there is one important comparison that needs to be made between Apple’s earnings report and that of Microsoft’s. Apple is now a more profitable company by net income margins as well. 29.6% for Apple ($11.6 billion net income on revenues of $39.2 billion vs. $5.1 billion on $17.4 billion). Heck, it seems it won’t be long before Apple’s net income catches up with Microsoft’s revenues.
Hey, Ballmer, you must miss the 90’s! LOL
Oh, I forgot to add that Microsoft’s net income margin last quarter was 29.3%.
So, Apple has 13 P/E with the numbers just reported and base the market close price of $562. If you adjust for Apple’s cash holdings, the P/E drops to 10. This is for the company that is growing bottom line at 90%!!! Wow. Talk about being massively undervalued. Even stagnating/no growth businesses get much, much better P/E. Not to mention Amazon’s 160 P/E. Apple just should start buy back stock and turn company private in 2 – 3 years.
This is what Apple did to the analysts.
I can’t wait to see these analysts start harping about this:
“Apple sold 7.7 million iPods, a 15 percent unit decline from the year-ago quarter.”
They’ll begin saying AAPL is in trouble because iPod sales are declining, all while ignoring the 88% and 151% growth of the other devices that also serve as iPods. Just wait, you know it is coming.
Its called stock manipulation
When the WSJ and their ilk give readers “JUNK NEWS” and “Chicken Little Reports” on the “Casino Capitalism” that passes itself off as Wall Street, they should be downgraded to Nokia status and move their operations to LasVegas!
Investors can’t depend on previously serious and credible joURINELists!
Murdoch’s Conservative Wall Street Journal spreading crap about Apple along with conserative analysts. It figures.
And once again, while the anal-ysts talk trash, Apple just points to the scoreboard in response.
Someone said Cook was in the process of ruining the company? That this was a “toy company” whose bubble was about to burst?
Moral of the story: It’s the figures, stupid, not rumours and wishful thinking.
Would somebody please tell me why Apple was able to raise every other stocks’ share price after hours and yet when those stocks go up they don’t do a damn thing for Apple. Those other stocks took off and their shareholders didn’t even have to sweat. Life is so unfair.
I usually have AAPL ticker in a corner window, bu lately had it off because the downdraft just didn’t seem real and I knew I would wake up later to it back up.
I’ve held my daughter’s AAPL since I bought it at 25.00. Right now her college is paid for.
Obviously a few pundits needed to make some money fast! So they started the underperforming rumor and attacks on the CEO. They purchased low and now reality hits and of course Apple is performing very well. They are the winners in short term and that is what they live for… short term.
Cheap, idiotic, unfair, destructive but totally expected from Wall Street… I wish Apple would leave the stock market and sell his own shares to the rest of the world… without a middle man… Nobody ever needs any middleman or instructions to decide.
Proof again that crooks were spreading lies about AAPL. When will the Feds take action?
I really don’t understand why everyone gets so upset with these people who publish nonsense in an effort to manipulate Apple’s stock price. Why not just take advantage of the fact that it happens? Unless you’re insane enough to have a stop-loss order out there that gets triggered at the bottom… Just sayin…
To all of your AAPL shareholders who have invested your hard earned money and supported one of the most innovative companies on the planet with your money and not your mouth, thank you! Unfortunately, I am not one of you. But, I appreciate what you have done and you deserve everything you earn on your investment. Hat’s off to you…. Enjoy….
… until the next time the SEC falls asleep. Classic!
Do you feel sorry fo those who sold off today and yesterday? (Oh ye who have little faith.)
Only 110 BILLION in cash and equivalents.The sky is falling!
BOOM!
You can only keep beating estimates for so long. The declines to follow soonish
I love an optimist.
It’s been about 40 quarters now. I’m not holding my breath.
This is what happens to a company that thinks and acts ‘Outside The Box’ and where the customer comes first, last and always. This is Apple Inc. we are talking about! …. Are any of us at all surprised? ….. Did we really expect any other result? … and … Yes … The best is yet to come …. BIG TIME!
My one and only regret … No Share Holding!!! 🙁