Apple posts another blowout quarter as all product lines beat targets

Apple reported today that its second fiscal quarters earnings blew away expectations once again as all major product lines exceeded targets.
Revenues were $13.5 billion and earnings were $3.07 billion, or $3.33 a share. The company sold 8.74 million iPhones (up 131 percent from a year ago), 2.94 million Macs (up 33 percent from a year ago), and 10.89 million iPods in the quarter (down 1 percent). A year ago, Apple reported revenue of $9.08 billion and a net profit of $1.62 billion, or $1.79 a share.
Analysts expected revenues of $12.06 billion, with a high estimate of $13.25 billion. Earnings were expected to be $2.44 a share. Analysts expected 6.8 million iPhone unit sales, 2.7 million Mac sales, 9 million iPods, and 750,000 to a million iPad sales.
In the previous holiday quarter (first fiscal ended Dec. 31), Apple blew past earnings estimates. In that quarter, the company reported earnings of $3.4 billion, or $3.67 a share, on revenue of $15.7 billion.
Gross profit margin, or the money it makes on products and services sold as a percentage of costs, was 41.7 percent, up from 39.9 percent a year ago. International sales were 58 percent of revenue.
“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 chief executive, in a statement. “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 chief financial officer. That forecast is also above expectations.
Companies: Apple