Apple easily surpassed the expectations of the Wall Street and the market. This is the statement which Steve Jobs gave during the quaterly earnings and it makes lots of sense and shows why Apple is still the market leader in creating innovative and amazing products - "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."
Apple reported total sales of $24.67 billion and total profits of $5.99 billion. Apple only lags in the sales of iPads and iPods and I guess market is not taking that into much consideration as the EPS (earning per share) for this quarter also beats the expectation. EPS for this quarter is $6.4 and the expected EPS was $5.37. Apple’s share rose to 3.91% or $13 in the after hours and now trading at around $355.80.
Following information depicts estimate Vs actual sales for the major Apple products.
Estimate Actual Sale
iPod 9.85 million 9 million
iPad 4.69 million 6 million
iPhone 16.3 million 18.65 million
MAC 3.64 million 3.76 million
For Q3 the revenue guidance is set around $23 billion & EPS at around $5.03. With the current scenario I find no reasons why Apple cannot beat the Q3 estimates as well, but with problems continuing in Japan it is hard to forecast what might happen. Party time for Steve and Apple, but I am sure this has become a regular feature with Apple as the story keeps on repeating quarter after quarter.
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