Apple Reports Blowout Q3 Earnings, Stock Soars
Apple just reported another blowout quarter. Yes, once again they have crushed Wall Street’s expectations.
Shares of Apple Inc (AAPL) surged past $400 after the financials were released. The stock settled at $394 in after hours trading. Today is a good day to be an Apple shareholder!
Apple Co-founder and CEO Steve Jobs released the following statement:
“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent,” He also added: “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”
Here’s the Q3 Breakdown:
Revenue: $28.57 Billion vs an expected $24.72 billion.
EPS: $7.79 vs an expected $7.09.
iPhone Shipments: 20.3 million vs an expected 16.5 billion
iPad Shipments: 9.25 million an expected 7.8 million.
Mac Shipments: 3.95 million vs an expected 4.2 million.
iPod Shipments: 7.54 million vs an expected 8.4 million
Gross Margins: 41.7%
Forward Guidance: $25 billion in revenue and $5.50 EPS vs an expected 27.69 billion in revenue and $6.36 EPS
Highlights from the conference call:
- Q3 operating margin was at an all time high
- Apple is now sitting on $76.2 billion in cash! (What the heck are they gonna do with all that loot?)
- Over 15 billion songs have been downloaded from iTunes. There are now over 225 million iTunes accounts.
- There are now 425,000 apps in the App Store with 15 billion downloads! Apple has paid out over $2.5 billion to iOS developers.
- Apple has now sold over 222 million iOS devices.
Congratulations to all Apple longs! If you’re not holding, there’s still time to jump on board! Many analysts are predicting significant growth for this iStock.