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April 23, 2008

Apple Steams Ahead On Strong Q2 Financials

Michael Arrington

16 comments »

Apple’s Q2 2008 financial results were very strong and above expectations. The bottom line: they are selling a lot of stuff at very good margins.

Total revenue for the quarter was $7.51 billion; profit was $1.05 billion, or $1.16 per diluted share (up from $.87/share a year ago). Profit estimates were in the $1.10/share range. 2.3 million Macs, 10.6 million iPods, 1.7 million iPhones. The company now has nearly $20 billion in the bank and maintains 73% U.S. market share for music players. They expect to sell 10 million iPhones this year.

In the conference call, Apple gave guidance on the iPhone 2.0 - late June. 200k+ downloads of SDK to date, and “1/3 of Fortune 500 interested” in the new iPhone, with enterprise-friendly features.

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This entry was posted on Wednesday, April 23rd, 2008 at 2:51 pm and is filed under Company & Product Profiles. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Comments

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  1. Joel Strellner

    April 23rd, 2008 at 3:04 pm

    Shouldn’t that be the first quarter? I do not think that the second quarter has happened yet…

  2. Smart

    April 23rd, 2008 at 3:05 pm

    I went to a respectable state university. When I arrived in 2001, I saw maybe a few iMacs, but hardly any apple laptops. By the time I graduated, nearly everyone you would see in the halls, dorms rooms, library… they were using Macs. Walking around campus, you would see those iconic white ear buds in the ears of everyone. I recently went back to visit. I saw maybe one aging PC laptop out of countless MacBooks.

    If these people are soon to be the gate keepers, Apple is on the ups.

  3. Joel Strellner

    April 23rd, 2008 at 3:06 pm

    Never mind, they’re on a different fiscal cycle.

  4. jonathan

    April 23rd, 2008 at 3:07 pm

    hopefully the iphone 3g plus new rumored laptops will continue to fuel sales(and stock price)

  5. Victor

    April 23rd, 2008 at 3:57 pm

    I say unlocked iphones. Let users decide what service to go with. Isn’t that working for Nokia?

  6. Adam Wexler

    April 23rd, 2008 at 3:59 pm

    Every conference or lecture I attend has people hacking away at their MACs. 80%+ of the kids age 12-21 have IPODs. iPhone is on tear and the new edition will only contribute to even healthier growth.

    I don’t know how Apple got down to 120/share recently…i don’t see many causes for concern in the near future

  7. Voice 2.0

    April 23rd, 2008 at 4:02 pm

    If they expect to sell 10 million iPhones this year, then they better start picking up steam as they are currently on track for about 5 million. Did they have 1 million sold by last Christmas?

  8. Peter Urban

    April 23rd, 2008 at 4:03 pm

    Will be interesting to see what those enterprise-friendly features are.

  9. Prasid

    April 23rd, 2008 at 4:06 pm

    surprising. i think everyone was anticipating a bad quarter because of declining consumer spending. google had surprisingly good results as well. from a broad economic outlook perspective this is a good sign. from an apple stockholder’s perspective, depsite strong earnings this quarter, i’d bet apple’s stock won’t bounce as high as some would like because investors will ignore this quarter and assume next quarter will reflect slowing consumer spending.

    http://www.dailydoseofpras.com

  10. Masseratti

    April 23rd, 2008 at 4:11 pm

    Sweet sweet music to my ears!

  11. johns

    April 23rd, 2008 at 4:56 pm

    But why is AAPL is trading negative in after hours trading?

  12. Peter Urban

    April 23rd, 2008 at 6:49 pm

  13. Rajiv Singh

    April 24th, 2008 at 12:51 am

    Apple is an overhyped turd.

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