Earnings Call: Jobs Says iPhone Revs Total $4.6B, Making Apple The Third-Largest Handset Maker

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Apple (NSDQ: AAPL) CEO Steve Jobs made a special guest appearance today on the company’s earnings call to brag about the iPhone’s stellar fourth-quarter performance, and to give his two-cents on how the consumer-electronics and computer company will be affected by the economic crisis as we head into the holiday shopping season. First, Apple’s CFO Peter Oppenheimer explained Apple’s new practice going forward of reporting non-GAAP financial results. Because the iPhone and Apple TV may provide free updates in the future, they are forced to spread out revenues for the devices over their lifetimes. Going forward, Apple will also report a non-GAAP financial measure that allows people to see how well the iPhone and Apple sales are currently doing. Under this new form of reporting, Oppenheimer said adjusted sales totaled $11.7 billion, or about $3.8 billion higher than its reported revenue, and adjusted net income was $2.4 billion, jumping by $1.3 billion than reported net income. “We believe this adds transparency to our business, and is helpful to you.” Oppenheimer said because of the uncertainty in the market, they are going to be prudent in predicting results for the September quarter. He said Apple is targeting revenue of $9 to $10 billion and earnings per share between $1.06 and $1.35.

In a rare appearance, Steve Jobs joined the conference call to provide his outlook on the economy and detail the iPhone’s Q4 performance. Jobs: “There

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