Apple Quarterly Earnings Blow Wall Street Projections Out of The Water Again

[Michael Essany]

Apple is dominating yet another earnings season on Wall Street. On Wednesday, the Mac maker boasted a profit spike of 95%, a reality made possible by sales of 18.65 million iPhones, 4.69 million iPads and 3.76 million Macs. The company reported $6.40 in earnings per share on revenues of $24.67 billion, topping Wall Street projections of $5.36 a share on revenue of $23.34 billion.

“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” Apple Chief Executive Steve Jobs said. “We will continue to innovate on all fronts throughout the remainder of the year.” Continuing the quarterly tradition of beating the street, Apple Chief Financial Officer Peter Oppenheimer said the positive quarter is a precursor of more growth to come. “We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” Oppenheimer said on the earnings call. “Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03.”

Also on the call was Apple Chief Operating Officer Tim Cook, who referenced the iPhone and its corresponding sales as being "off the charts," a reality that was even apparent in details of AT&T's quarterly earnings released earlier in the day. But for Apple, iPhone growth was a global phenomenon. And Cook was quick to point out that China played a major role in the last quarter's fiscal bonanza. "We continued to be on a tear in China," Cook said. "Greater China saw iPhone sales being up over three times, almost 250 percent."

Reporting for the Wall Street Journal, writer Matt Phillips briefly paused from his usual written eloquence to sum up today's earnings call from Apple with one word: "wow." That about captures everyone's sentiment at the moment.

Source: Wall Street Journal

[GmAz]

And with all that success, Jobs is still gonna die.

[thetoothfairy]

And with all that success, Jobs is still gonna die.

Not a very nice statement....

We all are going to die someday When Steve does pass on, look what he has left the rest of us... he did a great job for Apple and for us! I have always really liked Steve!

I am kicking myself in the butt because I didn't buy shares in Apples stock when it was $89.00 a share...

[rocketApe]

Daaaaaaaang! Would'nt mind owning a few shares in Apple myself.

[cavsdude44]

Dude what is wrong with you? What the hell kind of ignorant ***** comment is that?

[IXAdamOwnzXI]

Dude what is wrong with you? What the hell kind of ignorant ***** comment is that?

Butthurt much? It's the truth

[LamboFan]

Wow..that's sweet.

[unison999]

innovate through remainder of the year... Have not seen any innovation from Apple for at least a year.
Hate to say it but Apple have not had any innovation for quite some time, iPhone is a better packaged smart phone (plenty of smart phones before iPhone) and iPad is same thing on tablets (plenty of tablets before iPad). Better term would be "Apple will popularize iDevices through remainder of the year".
"remainder of the year" seems so terminal, does it mean Apple will not have anything innovative next year? Is Jobs hinting Apple will not have innovation without him in the office? Is that why so many highly positioned Apple employee is leaving?

[mmaboi21]

Yep I love giving apple my money

[Kariodude]

It's easy to post a huge profit when you charge more than double what it costs to make something.

[mortopher]

And with all that success, Jobs is still gonna die.

Thank you for enlightening us all to the fact that Jobs does not have immortality.

Since it's my turn in "The Obvious Game," you're an idiot.

[SirTimothy1]

I'm glad I bought Apple when it was at $90

[one1]

Doesn't count if you only buy one share Beavis.


















PS- Dear Jobs, an iPhone doesn't HAVE to be subsidized to be sub $600 does it? *finger*

[norfskate]

thank you for enlightening us all to the fact that jobs does not have immortality.

Since it's my turn in "the obvious game," you're an idiot.

+1

:-)

[bostonguy3737]

Thank you for enlightening us all to the fact that Jobs does not have immortality.

Since it's my turn in "The Obvious Game," you're an idiot.

The lack of decorum, compassion and any level of couth is not surprising yet still disappointing. I'm sure those that make these types or asinine statements have accomplished so much more that it's hard for us
little people to comprehend there contributions to society.......sarcasm drip drip drip

[Stewie Griffin]

Apple, I love spending my money on you because at the end of the day you've made me more.

[RICO_]

And they still can't afford to produce a quality OS update as of yet. Not to mention that's plenty of money they can waste trying to stop the jailbreaking of their devices. Good luck Steve.

[mlauth]

And they still can't afford to produce a quality OS update as of yet. Not to mention that's plenty of money they can waste trying to stop the jailbreaking of their devices. Good luck Steve.

Use an android device, then come back and complain about updates.

And with all that success, Jobs is still gonna die.

Wow dude.. what a jacka**

And with all his success and his death you will still be nobody

[emtee25]

Thank you for enlightening us all to the fact that Jobs does not have immortality.

Since it's my turn in "The Obvious Game," you're an idiot.

Just what I was thinking. Lol

[domenicp]

It's easy to post a huge profit when you charge more than double what it costs to make something.

Only if people are willing to pay for it... and obviously people are, so Apple must know a thing or two about pricing.