Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple Announces $1.07 Billion in Profit for Q3 2008

MacRumors

MacRumors

macrumors bot
Original poster
Apr 12, 2001
69,444
40,542


Apple announced their 3rd Quarter 2008 Financial Results today. Apple posted revenue of $7.46 billion and net quarterly profit of $1.07 billion (or $1.19 per diluted share). This compares favorably to revenue of $5.41 billion and net quarterly profit of $818 million (or $.92 per diluted share) in the year-ago quarter. Apple shipped 2,496,000 Macintosh computers and 11,011,000 iPods this quarter.
"We're proud to report the best June quarter for both revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "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."
Click to expand...
Looking to the fourth fiscal quarter 2008, Apple expects to earn a revenue of $7.8 billion and earnings per diluted share of about $1.00.

Apple's financial results webcast will begin at 5pm ET / 2pm PT.

Article Link
 
Article Link
https://www.macrumors.com/2008/07/21/apple-announces-1-07-billion-in-profit-for-q3-2008/
nice quarter for apple.

it's pretty obvious that they're busy working on finishing some stuff - imagine what would happen if there were NO new Apple announcements for the rest of 2008!
 
Sales rising up, customer care is going down... I guess Apple is joining some giants with their philosophy.

Oh well. Good numbers tho.
 
MacRumors said:
"We're proud to report the best June quarter for both revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "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."
Click to expand...
Click to expand...
Redesigned MacBook Pros and MacBooks?
iLife '09 and iWork '09?
Updated iPods?
Mini-tablet? :cool:
New iPod socks? :rolleyes:

Niiro13 said:
Interesting...revenue is 7.46 billion? So they spent 6.39 billion? dang...
Click to expand...
For what? It can't all be iPhone development... can it?
 
Guidance is insanely low.

$1.00 where the street was looking for $1.25

Looks like a very consertative number due to economic fears.

Not totally surprised with the results. I think apple wants analysts to bring that $1.25 down to more like $1.15.

Target prices might come down a few bucks, but I dont see any reason for major price cuts.

All-in-all.. meh.. nothing too bad nothing too good.
 
Peace said:
38% is below what estimates?
Click to expand...

Stock is falling NOT because of current numbers, but simply because of Apple's historically-conservative guidance, as usual...

These are FANTASTIC numbers which show that the sky is the limit for Apple, a record-breaking company quarter after quarter...

More growth than anyone else in the computer industry with its Macs, extremely solid sales for iPods that continue to DOMINATE the music industry, and a winning iPhone in all accounts, as the best and most successful smartphone in history...MICROSOFT IS DEAD IN THE WATER.

GO APPLE! TORA! TORA! TORA!
 
"We're proud to report the best June quarter for both revenue and earnings in Apple's history," said Steve Jobs, Apple's CEO. "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."

emphasis mine :)
 
" and we're busy finishing several more wonderful new products to launch in the coming months."
Click to expand...

And i'd imagine they're debugging several others...
Snow Leopard in 12 months, MobileMe update soon, Mac Mini needing a refresh, the laptops in line for a platform change, iPhone 3G selling above what even Apple had ready to manufacture - all looking promising
 
The market doesn't seem to realize that Apple is not posting revenue from any iPhone sales for the past quarter (this was explained in a previous post). Mac sales up 38%, and surprisingly, iPod sales up as well (it was previously thought that iPod sales had peaked). The problem is that the market follows key terms (such as "earnings less than most market forecasts" or "guidance lower for the next quarter" like a flock of sheep.

The smart investors will look into things in more detail and see that Apple increased year-over-year earnings in spite of not having a key source of its income, that sales increased dramatically, and that there are potential new revenue streams (such as the App store) coming on-line for the current quarter. And they will likely conclude that with today's drop in AAPL, it is now a good time to buy the stock at a discounted price.
 
Guidance was 1.00, consensus street estimate was 1.10-1.11

Where are you guys seeing that the street was any more than that?
 
Sandfleaz said:
we're busy finishing several more wonderful new products to launch in the coming months."

emphasis mine :)
Click to expand...
By "new," does Apple mean "updated, redesigned, or new," "redesigned or new," or "new, as in a never-existed-before-in-Apple's-lineup" product?

If it's the first, then our hopes have gone up for nothing.
If it's the second, then that points to redesigned laptops soon.
If it's the third, I can't think of anything but the mini-tablet.
 
gco212 said:
Good call. My mistake, I was just watching the stock dive and assumed it was due to doing poorly compared with estimates. Why is that guidance so bad though?
Click to expand...

You obviously don't follow AAPL's historically conservative guidance.
 
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back