Apple Earnings Shine With or Without Jobs (AAPL)
Apple Inc. (NASDAQ: AAPL) held up better than many would have expected given the sad news that Steve Jobs is taking another medical leave of absence. The Cult of Mac reported earnings of $6.43 EPS and $26.74 billion in revenues. …
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
iPad sales were 7.33 million and iPhone sales were 16.2 million units. Mac sales were 4.13 million units. The company generated $9.8 billion in cash flow from operations during the December quarter. We went ahead and broke out Apple’s liquidity, and that figure is now just under $60 billion at $59.707 billion versus $51.011 billion just one quarter before. We broke these out individually below:
Liquidity DEC.25. SEP.25
CashEq $10.734 $11.261
ShrTrm $16.243 $14.359
LngTrm $32.730 $25.391
The company’s gross margin was 38.5% compared to 40.9% in the year-ago quarter. The biggest number is that Apple said international sales accounted for some 62% of the quarter’s revenue.
As far as guidance, Apple called for revenue of about $22 billion and diluted earnings of about $4.90 EPS. Estimates for the next quarter are $4.43 EPS and $20.62 billion in revenues.
Steve Jobs was quoted in the release calling Mac, iPhone and iPad sales a record; and he noted, “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”
Apple shares closed down 2.25% at $340.65 after having been down as much as 5% earlier and after a $348.48 new all-time high on Friday. Apple shares were halted in the after-hours right before the news, so this is unfinished business until tomorrow’s opening bell. As of 5:00 PM EST in the after-hours, shares are trading at $347.30 but had briefly been over $350.00 at new all-time highs.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
