NEW YORK—Apple Inc. (AAPL) on Tuesday reported revenues and income far exceeding analysts’ expectations in another blowout fiscal second quarter.
Said CEO Steve Jobs, “We’re thrilled to report our best non-holiday quarter ever,” according to a company statement.
The Cupertino, Calif.-based computer and consumer electronics giant unveiled first-quarter revenues of $13.5 billion and $3.33 in earnings per share, far surpassing the Thomson Reuters analyst consensus of $2.45 in earnings per share.
The main driver of the growth? Look no further than the company’s popular iPhone smartphone, which sold 8.75 million units—easily doubling last year’s figures.
Additionally, Apple sold 2.9 million units of Mac computers and notebooks, also higher than the same period last year, albeit by 33 percent. Sales of the iPod—including the iPod Touch—remained flat.
In another move that surprised Wall Street analysts, the traditionally conservative Apple gave current quarter financial guidance that exceeded expectations.
“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Peter Oppenheimer, Apple’s CFO, in Apple’s release.
Wall Street was expecting $12.97 billion in revenues for the current quarter. Oppenheimer attributed the sanguine projections to the company’s expected release of the next iteration of its iPhone.
“We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year,” Jobs announced in a company statement.
Said CEO Steve Jobs, “We’re thrilled to report our best non-holiday quarter ever,” according to a company statement.
The Cupertino, Calif.-based computer and consumer electronics giant unveiled first-quarter revenues of $13.5 billion and $3.33 in earnings per share, far surpassing the Thomson Reuters analyst consensus of $2.45 in earnings per share.
The main driver of the growth? Look no further than the company’s popular iPhone smartphone, which sold 8.75 million units—easily doubling last year’s figures.
Additionally, Apple sold 2.9 million units of Mac computers and notebooks, also higher than the same period last year, albeit by 33 percent. Sales of the iPod—including the iPod Touch—remained flat.
In another move that surprised Wall Street analysts, the traditionally conservative Apple gave current quarter financial guidance that exceeded expectations.
“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Peter Oppenheimer, Apple’s CFO, in Apple’s release.
Wall Street was expecting $12.97 billion in revenues for the current quarter. Oppenheimer attributed the sanguine projections to the company’s expected release of the next iteration of its iPhone.
“We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year,” Jobs announced in a company statement.
