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Earnings: Apple Beats Wall Street Estimates To Post Its Best Non-Holiday Quarter Ever

image Apple (NSDQ: AAPL) announced its second-quarter financial results today, easily beating Wall Street expectations, despite it being the first full period that Apple’s CEO Steve Jobs has been on medical leave. Release. Earnings call (2 p.m. PST).

Apple posted revenue of $8.16 billion and a net quarterly profit of $1.21 billion, or $1.33 per diluted share. Compared to the year-ago period, revenues jumped 8.7 percent and earnings per share increased 14.7 percent from $1.16 a share. That was able to beat Wall Street estimates that were predicting Apple to report its first year-over-year earnings decline in six years. The Street was expecting Apple’s sales to increase by roughly 6 percent, while net profits were expected to slip by around 6 percent to $1.09.

Apple’s CFO Peter Oppenheimer said in a release: “We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history. Apple

5 Responses to “Earnings: Apple Beats Wall Street Estimates To Post Its Best Non-Holiday Quarter Ever”

  1. Estimates are usually made to help a company in meeting its objectives or goals. Most estimates are really close to the real results. So basically, there's no big deal in case that the estimate is lower or higher than the actual result. Absolutely, this can't be an issue. If the company thinks that their estimate is reasonable enough to convince investors then they will definitely use it. This issue only proves that company's accounting presentation must always be fair to everybody.

  2. iPhone sales are definitely slowing:
    Q4 2008 (July-September): 6892000
    Q1 2009 (October-December) : 4363000
    Q2 2009 (January-March) : 3790000

    It basically shows that the iphone is just a trend and that the amount of rich kids with money to spare for such glimmering piece of gadget is being dried up.

  3. I disagree with the above comment. This is a company so profoundly rooted in its invigorating innovation, born of a great mind. Many companies don't hit their estimates. If that were true, that estimates were always posted lower than truly expected, the investors that don't truly believe in the future of Apple, they wouldn't sell out hours before earnings reports. Rather, they'd just hang on, wait until the report came out and collect on investments.

    Additionally, the estimates are actually not all that far from reality on a percentage basis.

    Apple continues to post healthy growth based on a healthy company with keen minds running the show. I'm all in.

  4. Jamie Poitra

    So basically they did what they've done every quarter previously? I think they purposely give lower estimates than they should so they can always beat them.