Today Apple released its earnings for the third quarter and as expected the result is just fabulous. Apple has proved time and again that they are the best. Even without releasing the new iPhone, Apple easily surpassed the expectations of the Wall Street.
This is what Steve Jobs said during the earnings press release: "We're thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall."
Revenue increased by 82% to $28.57 billion. EPS (earning per share) for this quarter is $7.79 and the expected EPS was $5.85. The guidance set by Apple for the current quarter is $25 billion with an EPS of $5.5. I am pretty sanguine that Apple will beat this guidance. The after hours shares of Apple (AAPL) rose by 5% and still moving upwards.
Apple still has lots of things to release this fall. The OS X Lion will be coming out tomorrow (atleast that is what people expect) and soon that will be followed by iCloud, iOS 5 and the new iPhone and the iPad. No stopping for Apple in the near future. Techs (Apple, Google, IBM) are leading this season of the quarterly earnings and driving the markets north. Still there are lot to come as far as earnings report is concerned, but with this blowout result from Apple, Wall Street is all geared up for a big rally tomorrow and hopefully this trend will continue.
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