Apple Inc. blew prior expectations with their current quarterly report on Tuesday, selling just about as many of its new iPad tablets as it sold Mac pcs. Apple sold 3.27 mil iPads for the period of the quarter. which is only 200,000 fewer products compared to their entire Mac department sold. And it was the best Mac gross sales quarter ever.
In just about any other quarter, the iPad would have sold more copies than the Mac. And that is the first quarter that Apple inc is publishing product sales stats for the iPad. Upcoming quarter, you can certainly expect the iPad to blow recent its comparable version in terms of sales. Sure, with price tags beginning from $499, the iPad is less expensive than any Mac pc. But Apple has a huge selection of options for Macs. The sales involve iMacs, MacBooks, MacBook Pros, Mac Pros, and Mac minis. The iPad is one device (which comes with a number of configurations).
Apple inc also gave bigger revenue information than Wall Street was expecting, a thing the company never does. Shareholders sent stock shares up within after-hours trading. Apple said net profit went up 78% to $3.25 billion, or $3.51/share, from $1.8 billion, or $2.01/share a year ago. Profit for the April-to-June timeframe increased 61% from last year to $15.7 billion, making it the company's best quarterly profit ever before, even winning over the latest holidays. That's greater in comparison with Wall Street forecast. Analysts interviewed by Thomson Reuters had estimate net income of $3.11/share on $14.7 billion in profit. Apple inc sold 8.4 million iPhones, up 61% from last year, despite the fact that the company discontinued shipping more of the previous-generation iPhones soon after the modified version, the iPhone 4, was announced in early June. Apple sold 1.7 mil of their most recent iPhone 4 for the period of the last three days of the quarter. Apple inc also repo rted it sold about 3.3 mil iPads in the gadget's earliest three months on the market.
Both the iPad and iPhone 4 have been out of stock in a lot of stores and take a few weeks to ship to new consumers. During the conference call, an analyst questioned whether Apple intentionally creates too few of the devices. "We do not purposefully create a shortage for buzz," said Apple COO Tim Cook. "We are currently still selling both of those products as fast as we can make them." Cook said he doesn't know when Apple will have enough of the products on hand to be able to fulfill demand. Several analysts had worried that the launch of the iPad, which can be used to browse the Internet, check e-mail, watch videos and read books among other functions, would lure people that might otherwise buy the Macintosh pc. The concern seems to have been unproven: Mac unit sales jumped 33% to 3.5 mil, helped by simply what CFO Peter Oppenheimer referred to as record sales to academic associations in the quarter. Cook said it was too early to tell whether the iPad may take profit from other product categories in the long term. Apple's assistance consistently comes in less than Wall Street estimates, so it's notable that Apple said it expects $18 billion in profit for the current quarter, in comparison with the Street estimate for $17 billion.
Rajesh Ghai of ThinkEquity LLC said the unexpectedly huge outlook seems to be an attempt to redirect investors' focus away from "antennagate" - an issue with the iPhone 4's antenna structure that prompted Apple to offer free cases through Sept - and back to customers' apparently insatiable demand for iPhones and iPads. Apple stock shares rose $7.36, or 2.9%, to $259.25 in extended trading just after the release of the outcomes. The company said it will wait till the October-through-December quarter to recognize about $175 mil in profit to account for the free cases it plans to deliver to consumers just after the end of the current quarter. The company did not state how much the case giveaway will probably cost. Apple expects to earn $3.44/share for the current quarter, less than the $3.83 analysts are predicting. While quite a few technology companies, such as Intel Corp. and IBM Corp., saw profit damage in the quarter by the influences of a stronger U.S. dollar, Apple did not appear to flinch. "I'm sure they're seeing a negative impact, but it just doesn't matter because they're selling so much stuff," said Andy Hargreaves, an analyst for Pacific Crest Securities.
Here are a number of live profits call notes:
* New all time record for quarterly Mac sales.
* Largest quarterly profit ever. $15.7 billion - 61% over the previous June.
* Net income up 78% over a year ago.
* 33% year over year increase for Macs. We've outgrown the global market.
* Double-digit Mac growth in all geographies.
* 9.4 mil iPods vs 10.2 million a year ago
* iPod touch grew 48% year over year
* iPod share is over 70% - top selling MP3 player in almost every single country we monitor
* iTunes store revenue surpassed $1 billion.
* 225,000 apps - now more than 11,000 applications for iPad
* Over 5,000,000,000 apps downloaded.
* 1.7 million iPhone 4s in the 5 initial countries.
* Powerful growth in Asia, Europe, and Japan for iPhone
* More than 100 million iOS devices out there currently
* 3.27 million iPads in ten countries
* Apple Store profit also a record. Revenue up 73% vs a year ago
* Fifty percent of Macs sold in store are to new Mac customers
* We have 293 stores now
* Average 287 stores open - Average rev in each store was $9 million
* 60.5 million visitors in our stores during the quarter.
* 24 new stores this quarter
* 39.1% gross margin - down, but we knew this. Mainly due to iPad sales
* $45.8 billion in cash now.
* We will be giving free cases to all iPhone 4 customers, so we're deferring revenue for this.
* This will be about $175 mil - deferral
* We expect to have revenues to be around $18 billion next quarter. 35% margins - lower caused by iPhone 4 and iPad sales - and the cases.
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