Although Mac sales were off 3% year over year, Apple did incredibly well otherwise including quarterly iPhone unit sales of 3.79 million, up 123 percent from the year-ago-quarter.
Apple posted its earnings on its website today.
Apple sold 2.22 million Macintosh® computers during the quarter, representing a three percent unit decline from the year-ago quarter. The Company sold 11.01 million iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 3.79 million representing 123 percent unit growth over the year-ago quarter.
We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history, said Peter Oppenheimer, Apples CFO. Apples financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00.
It is hard to find fault with Apple's numbers against a backdrop of double digit year over year losses from many of the other PC makers. Even the ones that are faring well are getting numbers from low cost, low margin Netbooks. Apple's least expensive laptop costs $1000.
I also have to wonder how the exploding App Store figured into sales. Apple keeps 30% of the total cost of the apps, some of which must be figured into overhead. That leaves some room for profit.
Remarks from the Conference call
"Best non holiday quarter ever"
Macs: "2.22 million 2009 vs 2.29 million in 2008."
iPod: Still over 70% in US and gaining international.
Within hours of reaching 1 Billionth App download
iPhone: Geographic reach: 81 countries. 3.8 million units this quarter - that is WITHOUT any taking any revenue from the March 13 iPhone 3.0 beta release.
- 300% increase in revenue. $2.2 Billion overall.
Stores: $1.47 this year vs. $1.54 Billion year ago
16% more store visitors, 8% less revenue.
June Quarter: $7.7-7.9 Billion, 33% margins
"very excited about products in pipeline"
Re: Netbooks, Same answers, but sounds more imminent.
iPod Touch is a runaway hit. Also App store
Steve Jobs will return at the end of June
No upcoming lawsuits against Palm
Apple's stock is up to 125.61 +4.10 (3.37%)in after hours trading.