Apple Destroys Wall Street Estimates on Record Quarterly Revenue, Earnings Report

[Michael Essany]

Apple did it again.

Moments ago, the Cupertino, California based tech giant delivered what analysts are already calling a "blowout quarter," in terms of the company's earnings and revenues. Helping Apple reach today's lofty perch is the fact that sales of iPads nearly tripled during the fiscal 2011 third quarter ended June 25, 2011.

According to the official word from Apple, earnings popped to $7.79 a share from $3.51 a share one year ago. The "street" had anticipated earnings of about $5 but definitely not more than $6 a share. Meanwhile, revenue rose to $28.57 billion from $15.7 billion one year ago during the same quarter.

“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” said Steve Jobs in a press release that accompanied the earnings report. “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”

“We are extremely pleased with our performance which drove quarterly cash flow from operations of $11.1 billion, an increase of 131 percent year-over-year,” added Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.”

Apple will provide live streaming of its Q3 2011 financial results conference call beginning at 2:00 p.m. PDT today. To "tune in," click here.

Source: Apple

[ccoltmanm]

That's amazing. As a MS fanboy, i'm both jealous and impressed.

[TheOrioles33]

That's amazing. As a MS fanboy, i'm both jealous and impressed.

Like I've always said, love em or hate em, Steve Jobs and Apple are pretty impressive.

[exNavy]

Here comes the stock sell off...

[ash3s2012]

What's MS?

[rkswat]

Guess that just goes to show how super over priced Apple's products are and how stupid, we the consumers are to pay that high price.

[RICO_]

Meh.....

Plenty of money for future patent settlements and royalties payouts.

[unison999]

If I were SEC I would start investigating Apple's books...

[toawkanavngthded]

What's MS?

Microsoft

[Poseidon79]

I should refer to this article every single time a new Apple product comes out and someone complains that it doesn't have enough megapixels, or the processor isn't fast enough or it doesn't have enough RAM or the screen resolution sucks... why didn't Apple just give me everything I wanted right now instead of these micro-upgrades?! Well my friends... $28.57 Billion is the answer. Apple only has to answer to one group of people and that's it's stockholders. People invest in Apple because they are simply unmatched in tech world when it comes to profits and marketing. So next time you start to ***** about the next iPhone that comes out in Sept and why it doesn't have this or that refer back to this article and realize Apple exists to make profit... not make the average super techie consumer happy.

[hogcia]

I should refer to this article every single time a new Apple product comes out and someone complains that it doesn't have enough megapixels, or the processor isn't fast enough or it doesn't have enough RAM or the screen resolution sucks... why didn't Apple just give me everything I wanted right now instead of these micro-upgrades?! Well my friends... $28.57 Billion is the answer. Apple only has to answer to one group of people and that's it's stockholders. People invest in Apple because they are simply unmatched in tech world when it comes to profits and marketing. So next time you start to ***** about the next iPhone that comes out in Sept and why it doesn't have this or that refer back to this article and realize Apple exists to make profit... not make the average super techie consumer happy.

Ya well apple likes to sue the **** out of others when they feel threaten by new innovations. And half of apple fans are dump for following along. Apples next iPhone will be the same but faster, and the new ios5 sucks. If it was not for the JB this phone would suck balls.