Apple Reports Huge Second Quarter Earnings
Apple (AAPL) just released a monster Q2 earning report. They reported $24.67 billion in revenue vs an expected 23.38 billion and an EPS of $6.40 vs an expected $5.37. Apple’s Q2 margins were an astounding 4.14 percent.
Apple’s net profit this quarter was $5.99 billion. That’s $6.40 a share! Yep, Apple is still on fire!
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders. We will continue to innovate on all fronts throughout the remainder of the year.” said Apple Cofounder and CEO Steve Jobs
Apple shipped 18.65 million iPhones this quarter vs an expected 16.6 million. They also shipped 3.76 million macs vs an expected 3.6 million. iPod sales came in at 9 million.
iPad sales came in a little weaker than expected at 4.69 million vs an expected 6.2 million. This is likely due to supply issues. Apple stated that they sold every iPad they could make.
Apple’s Qq3 guidance was a little low. They forecast an EPS of $5.03 vs an expected $5.25. It’s important to note that Apple typically reports conservative guidance. Apple stock is trading higher in the after hours session.