Q3 Earning Report
July 21st, 2008, 1:08 pm. Posted under AAPL Earnings by AppleOption.
Visit Apple’s website to join the conference call webcast of the Q3 - 2008 financial results. The report begings at 2:00pm PT / 5:00pm ET today!
If you would prefer to dial-in, you can listen to the conference call using this phone number at Briefing.com.
Earnings
- Revenue of $7.46 billion (last year $5.41 billion)
- Net quarterly profit of $1.07 billion or $1.19 per diluted share (last year $818 million or $0.92 per share)
- Shipped 2,496,000 Macintosh computers
- Shipped 11,011,000 iPods
- Shipped 717,000 IPhones (and that was with people waiting for the 3G)
- Apple did not recognize ANY iPhone revenue sold after March 6th till July 11th
- Steve Jobs “We’re proud to report the best June quarter for both revenue and earnings in Apple’s history. We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we’re busy finishing several more wonderful new products to launch in the coming months.”
- Mac sales numbers represent 41% unit growth over last year’s quarter
- iPod sales represent 12% unit growth over last year’s numbers
- Q4 2008 expectations: revenue of $7.8 billion and earnings per diluted share of about $1.00.
- AAPL did not recognize ANY IPhone revenue sold after March 6th until 2.0 software came out on 7/11 so they sandbagged Apr, May and June’s IPhone sales!
Conference Call Highlights
- Very pleased to report highest June quarter earnings and revenue.
- 38% growth in revenue over previous year-ago quarter
- Highest quarterly Mac shipments ever
- Continues to see healthy growth in all regions, sales in retail stores very strong
- Mac: 2.5 million Macs shipped. Most in any quarter in Apple’s history.
- Apple’s share of total personal computers up to 19.5% in June
- Best Mac quarter ever in U.S. education
- Sold 11 million iPods. Up 12% from year ago.
- Great start with iPhone 3G. 22 Countries. 1 millionth iPhone 3G just 3 days after its launch.
- Customer reaction to iPhone 3G overwhelmingly positive.
- App Store: offers more than 900 applications, with 20% free. 90% less than $10.
- Customers loving the App Store. Over 25 million Apps downloaded so far.
- Retail Stores. 476,000 Macs sold. 1/2 were sold to customers new to Mac.
- 216 Stores Worldwide by end of Quarter. Extending international stores. Switzerland and Germany coming.
- Looking forward to 4th Quarter: Great start with iPhone 3G. Expect to sell more iPhones in Q4 than any previous quarter. Due to subscription recording, much of the revenue will be deferred to future quarters. “Future product transition“. Can’t discuss today.
- More great new products later this year.
- Apple reiterates they will be delivering state of the art new products at prices their competitors can’t match. Very excited about what they have in their new product pipeline.