Stock hits all-time high after iPhone and Mac sales drive sensational earnings report.
Apple second-quarter numbers inspired investors to push the stock out to all-time high's in an after-hours lovefest.
Apple ( AAPL - news - people ) shares jumped 7%, or $17.09, to $261.68 after reporting second-quarter earnings rose 93.8% to $3.1 billion, or $3.33 per share, from $1.6 billion, or $1.79 per share a year ago. Analysts on average predicted earnings of only $2.45 per share. Sales came in at $13.5 billion, a good measure ahead of the $12 billion Wall Street expected, and 48.4% better than the $9.1 billion totaled in last year’s corresponding period.
“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Apple Chief Financial Officer Peter Oppenheimer.
The report's highlight was sales of the iPhone, Apple’s mobile device, which jumped 131% on an annual basis to 8.8 million units sold in the second quarter, well ahead of the 7.5 million expected. The figure is especially impressive considering the intense competition in the mobile-phone industry, and the difficult consumer environment. Sales of Mac computers rose by a third during Apple's second quarter to 2.9 million.
iPod sales reached 10.9 million, slightly ahead of the 10 million expected, but a notch below the 11 million sold last year. The dip, coupled with the recent release of the iPad, could spur questions over the future of the iPod, which has long served as a gateway product for consumers into to the Apple universe.
“We’re thrilled to report our best non-holiday quarter ever,” said Apple Chief Executive Steve Jobs. “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.”
For More Read....
http://www.forbes.com/2010/04/20/apple-technology-iphone-markets-equities-consumer.html?boxes=technologychannelmostpopular
Web Designers, Chicago Web Design
Apple second-quarter numbers inspired investors to push the stock out to all-time high's in an after-hours lovefest.
Apple ( AAPL - news - people ) shares jumped 7%, or $17.09, to $261.68 after reporting second-quarter earnings rose 93.8% to $3.1 billion, or $3.33 per share, from $1.6 billion, or $1.79 per share a year ago. Analysts on average predicted earnings of only $2.45 per share. Sales came in at $13.5 billion, a good measure ahead of the $12 billion Wall Street expected, and 48.4% better than the $9.1 billion totaled in last year’s corresponding period.
“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13 billion to $13.4 billion and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Apple Chief Financial Officer Peter Oppenheimer.
The report's highlight was sales of the iPhone, Apple’s mobile device, which jumped 131% on an annual basis to 8.8 million units sold in the second quarter, well ahead of the 7.5 million expected. The figure is especially impressive considering the intense competition in the mobile-phone industry, and the difficult consumer environment. Sales of Mac computers rose by a third during Apple's second quarter to 2.9 million.
iPod sales reached 10.9 million, slightly ahead of the 10 million expected, but a notch below the 11 million sold last year. The dip, coupled with the recent release of the iPad, could spur questions over the future of the iPod, which has long served as a gateway product for consumers into to the Apple universe.
“We’re thrilled to report our best non-holiday quarter ever,” said Apple Chief Executive Steve Jobs. “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.”
For More Read....
http://www.forbes.com/2010/04/20/apple-technology-iphone-markets-equities-consumer.html?boxes=technologychannelmostpopular
Web Designers, Chicago Web Design
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