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Apple 2Q 2008 Results, Conference Call Highlights: $1.05 Billion in Profit

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Apr 12, 2001
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Apple posted revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share. This compares to $5.26 billion revenue and $770 million profit, or $.87 per diluted share from the year ago quarter. Gross margin was 32.9 percent, down from 35.1 percent in the year-ago quarter. International sales accounted for 44 percent of the quarter’s revenue.

Sales notes from the quarter:
- 2,289,000 Macs shipped (51% unit growth, 54% revenue growth)
- 10,644,000 iPods shipped (1% unit growth, 8% revenue growth)
- 1,703,000 iPhones sold

"We’re delighted to report 43 percent revenue growth and the strongest March quarter revenue and earnings in Apple’s history," said Steve Jobs, Apple's CEO. "With over $17 billion in revenue for the first half of our fiscal year, we have strong momentum to launch some terrific new products in the coming quarters."

"We're thrilled to have generated $4 billion in cash flow from operations in the first half of fiscal 2008, yielding an ending cash balance of $19.4 billion," said Peter Oppenheimer, Apple’s CFO. "Looking ahead to the third quarter of fiscal 2008, we expect revenue of about $7.2 billion and earnings per diluted share of about $1.00."
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The corresponding quarterly conference call will begin shortly at 5pm EDT. We will provide highlights of the call and the Q/A session here.

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https://www.macrumors.com/2008/04/23/apple-2q-2008-results-conference-call-highlights-profit/
Great news, but at 4:41 PM, Apple's share is about to dip below $160. I guess the street wanted more.
 
iPod sales above expectation as many analysts were expecting a drop, Mac sales above expectation, margins DOWN, iPhone sales 1.7m. I bet the iPhone is lower margin on average (hardware sales) to other Apple products and is bringing down the margin. Revenue from service plan splits is additive over time.

Rocketman
 
Pippen Man said:
Great news, but at 4:41 PM, Apple's share is about to dip below $160. I guess the street wanted more.
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I'm hearing that Apple's expectations for this quarter are below street estimates, so we'll see how the stock does tomorrow. Doing well last quarter is nice, but future growth is what drives the stock market.
 
Those numbers look great.

Here's hoping the momentum continues.

I think this is going to be an exciting rest of the year for Apple.
 
skunk said:
Did they post expectations of iPhone sales?
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no, but they stated off the cuff they wanted to sell 10 million by the end of this year. total. they've got a little under nine months to sell what another 5 million units?
 
"New products," plural?? A new 3G iPhone was a given, but use of the plural makes me think we could see some other totally redesigned products coming up.

Oh, Steve, why must you tease me so!
 
skunk said:
Did they post expectations of iPhone sales?
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AI has a wrap up of all the analysts expectations for iPhone sales and I'd say 1.7 million actually beat the average. There were a couple that said 1.8 or 2.0 but there were also a number of them that said just over 1 million. Consensus from the analysts was about 1.55 so 1.7 actually beat the estimates. They are just reacting to the $1 per diluted share forecast...
 
Steve Jobs indicating new products on the horizon ... things that make you go hmmmm :rolleyes:
 
longofest said:
I'm hearing that Apple's expectations for this quarter are below street estimates, so we'll see how the stock does tomorrow. Doing well last quarter is nice, but future growth is what drives the stock market.
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and apple always guides lower than the reality. that investors haven't figured this out yet is one of the great mysteries of the universe. the script goes:

apple announces record profits, smashing their guidance from last quarter
apple issues guidance for lower revenue in the following quarter
stock tanks as moron investors fail to recall the pattern from last quarter
apple stock slowly rises over the next couple of months, spiking towards the earnings call
apple announces record profits, smashing their guidance from last quarter

i don't know maybe it's actually a healthy cycle, like culling the herd, but it still amazes me analysts don't remember apple does this every single quarter.
 
MacTheSpoon said:
"New products," plural?? A new 3G iPhone was a given, but use of the plural makes me think we could see some other totally redesigned products coming up.

Oh, Steve, why must you tease me so!
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Umm, yeah, it's called the WWDC. Apple releases at least several products around this time.
 
Can I tell you why this isn't so surprising (in regards to Mac sales)?

Mostly every one of my students are buying, looking to buy, or getting a Mac as a graduation present. It's all they talk about...Mac, Macs, Macs.

Other teachers are sending students down to work on projects in my classroom because there are macs and the PCs in their rooms cannot be used.

I'm serious on this - the "halo" effect from the iPods, iPhones, etc is working. This is going to be a stellar year for Apple, even in a "recession."
 
Apple is gonna be the BIGGEST computer company in the world in less than 2 years...Microshaft, prepare to be bought within that period, because Apple is mopping the floor with you.

There is NO OTHER company in its segment growing as much as Apple, especially in these times of recession in the US...SJ and Co. have the PERFECT strategy and are firing on all cylinders...it's an INCREDIBLE BUSINESS CASE!

SIMPLY AMAZING NUMBERS and growth incredibly higher than any competition...GO APPLE GO!!!

p.s.: It's good to be a fanboy...we know what's best.
 
dashiel said:
no, but they stated off the cuff they wanted to sell 10 million by the end of this year. total. they've got a little under nine months to sell what another 5 million units?
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Nah, its 10 million in 2008, so they've got to sell another 8 million units this year.

BRLawyer said:
Apple is gonna be the BIGGEST computer company in the world in less than 2 years...Microshaft, prepare to be bought within that period, because Apple is mopping the floor with you.
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I think you've had a little too much of the kool aid ;).
 
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