The week is thick with Apple (NSDQ: AAPL) news and speculation.
Today, we found out that Apple had a stellar holiday quarter, and on Wednesday, it will reveal its latest product announcement. With so much hype, investors could not contain themselves, and drove up Apple’s stock $6.44, or 3.26 percent, to $203.07 a share.
In a release, CEO Steve Jobs addressed both events head-on: “If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company. The new products we are planning to release this year are very strong, starting this week with a major new product that we’re really excited about.”
The Company blew analyst expectations out of the water. It posted revenue of $15.7 billion and a net quarterly profit of $3.38 billion, or $3.67 per diluted share. Analysts were expecting average revenues of $12.1 billion, and a quarterly profit of $2.07 a share.
Apple sold 8.74 million iPhones during the period, which is more than it ever had sold before, and was double what they sold in the same holiday period a year ago. In addition, it sold nearly 21 million iPods, down 8 percent compared to the year-ago period, and 3.4 million Macs, which was up 33 percent from the year-ago period. Interestingly, for the first time Apple listed off how many iPhones it sold in its press release before mentioning the iPod, signaling just how important the product line has become to the company. Mac sales are always listed first.
Not only were product sales strong compared to the year-ago period, the company’s financials also performed well. Compared to the year ago period, which ended Dec. 27, revenues were up nearly 33 percent, and quarterly profits were up almost 50 percent. Apple’s CFO Peter Oppenheimer pointed out that Apple generated $5.8 billion in cash during the quarter.
Still, the company continued to have a conservative outlook, and said in the second fiscal quarter of 2010, it expects revenue in the range of about $11.0 billion to $11.4 billion and diluted earnings per share of about $2.06 to $2.18.