Apple Set to Release Q1 2010 Financial Results on January 25th

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Apple today issued a media alert announcing details for the January 25th release of its financial results for the first fiscal quarter of 2010, corresponding to the fourth calendar quarter of 2009. The results will be released after the close of trading on Monday at approximately 4:30 PM Eastern / 1:30 PM Pacific. Apple's conference call discussing the results will follow at 2:00 PM Pacific and will be available via a live audio webcast. MacRumors will provide running coverage of the conference call highlights.

Apple issued several Mac product releases during the quarter, updating its MacBook, Mac mini, and iMac lines in mid-October. At the same time, Apple introduced its multi-touch Magic Mouse. The period also marked the first full quarter of sales since Apple refreshed its iPod line near the end of the previous quarter.

For the quarter, analysts are predicting net earnings of $2.06 per share on revenue of $12.05 billion, above Apple's guidance of $1.70-$1.78 profit on $11.3-$11.6 billion of revenue. Apple's year-ago results for the first fiscal quarter of 2009 included net earnings of $1.78 per share on revenue of $10.17 billion.

Article Link: Apple Set to Release Q1 2010 Financial Results on January 25th
 

xerent

macrumors newbie
Jan 19, 2010
20
0
I'm going to go out on a limb and predict that the net profits will be lower, higher or equal to that of the last fiscal quarter.
 

iDisk

macrumors 6502a
Jan 2, 2010
825
0
Menlo Park, CA
Hopefully will hear about why the iMacs have been pushed back to 3 weeks shipping now.... Also the 25th is a Monday and The 27th is a Wednesday... That leaves us with a "Site Update" for Tuesday (probably the MacBook Pros and Air) so the focus of the event will be iLife/work, iPhone OS, Mobile Me/ iWork.com beta , iTunes, and Tablet
 

RawBert

macrumors 68000
Jan 19, 2010
1,727
66
North Hollywood, CA
Maybe their biggest quarter ever.

Although, how many customers have been holding on to their money in lieu of the tablet or the iPod Touch with camera?
 

gguerini

macrumors regular
Jun 28, 2007
203
1
Hopefully will hear about why the iMacs have been pushed back to 3 weeks shipping now.... Also the 25th is a Monday and The 27th is a Wednesday... That leaves us with a "Site Update" for Tuesday (probably the MacBook Pros and Air) so the focus of the event will be iLife/work, iPhone OS, Mobile Me/ iWork.com beta , iTunes, and Tablet
It would be nice to see next Wednesday, 26th:

"New Macbook Pro start shipping tomorrow (27th) with the new iLife 2010!" :)
 

benlee

macrumors 65816
Mar 4, 2007
1,242
1
That leaves us with a "Site Update" for Tuesday (probably the MacBook Pros and Air) so the focus of the event will be iLife/work, iPhone OS, Mobile Me/ iWork.com beta , iTunes, and Tablet
That makes sense. Why would they have the event on Wednesday. Also, the new iMacs, Macbooks, minis and magicmouse were released after the quarterly earnings last quarter. WHOOOOOOO NEW MACBOOK PROS!!!!!!!!!!!!!!!!!!:apple::mad::eek::(:):confused::eek::D;):rolleyes::cool::p
 

PaulSorensen

macrumors regular
Apr 30, 2008
106
43
Does Apple stock usually rise after the report if its good?
Apple quarterly reports have been "good" pretty much since 1998, but the stock usually goes in some random direction afterwards. The times that I've seen it plummet have been when they give overly conservative forward guidance -- even though everyone knows that they always give conservative guidance.
 

iZac

macrumors 68020
Apr 28, 2003
2,083
1,309
Shanghai
What time today do they release their quarterly report? I've got so caught up in Tablet fever that i forgot about this!

EDIT I've got my timezones messed up, i'm at GMT not BST, fool!
 

rdowns

macrumors Penryn
Jul 11, 2003
27,397
12,512
I'll be more interested in the next financial report, post tablet introduction.
Bingo. Although Apple loves to low ball Wall Street so…

For those of you hoping to get product info out of this call, forget it. The best you'll get is we have exciting new products in the pipeline and see you Wednesday.
 

Cinematographer

macrumors 6502a
Sep 12, 2005
900
4
far away
Revenue: over $ 15 billion. :cool: vs. 11.45 guidance.

Profit: over $ 3 per share :cool: vs. 1.74 guidance.

Apple Inc. /quotes/comstock/15*!aapl/quotes/nls/aapl (AAPL 204.36, +1.28, +0.63%) on Monday reported a fiscal first-quarter profit of $3.38 billion, or $3.67 a share, compared with earnings of $2.25 billion, or $2.50 a share in the same period a year ago. Revenue rose 32% to $15.68 billion as Apple reported sales of 8.74 million iPhones in the quarter ended in December. The results topped the estimates of analysts surveyed by Thomson Reuters, who forecast Apple to earn $2.07 a share on $12.06 billion in revenue.
 

rdowns

macrumors Penryn
Jul 11, 2003
27,397
12,512
$15.68 billion vs. $12.1 expected. Crazy!

CNBC says guidance is high.
 

norsemen

macrumors regular
Apr 2, 2007
146
34
Looks like they beat estimate on Macs, but missed on the iPhone.

Jobs: New products (A Major New Product), several in the pipeline
 

davidwarren

macrumors 6502a
Aug 28, 2007
782
2
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.

-Jobs
 

rdowns

macrumors Penryn
Jul 11, 2003
27,397
12,512
From press release:

CUPERTINO, California—January 25, 2010—Apple® today announced financial results for its fiscal 2010 first quarter ended December 26, 2009. The Company posted revenue of $15.68 billion and a net quarterly profit of $3.38 billion, or $3.67 per diluted share. These results compare to revenue of $11.88 billion and net quarterly profit of $2.26 billion, or $2.50 per diluted share, in the year-ago quarter. Gross margin was 40.9 percent, up from 37.9 percent in the year-ago quarter. International sales accounted for 58 percent of the quarter’s revenue.

Apple sold 3.36 million Macintosh® computers during the quarter, representing a 33 percent unit increase over the year-ago quarter. The Company sold 8.7 million iPhones in the quarter, representing 100 percent unit growth over the year-ago quarter. Apple sold 21 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter.

During the quarter Apple elected retrospective adoption of the Financial Accounting Standards Board’s amended accounting standards* related to certain revenue recognition. Adoption of the new accounting standards significantly changes how the Company accounts for certain items, particularly sales of iPhone® and Apple TV®.

“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO. “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.”

“We are very pleased to have generated $5.8 billion in cash during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2010, we expect revenue in the range of about $11.0 billion to $11.4 billion and we expect diluted earnings per share in the range of about $2.06 to $2.18.”

Apple will provide live streaming of its Q1 2010 financial results conference call utilizing QuickTime®, Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PST on January 25, 2010 at http://www.apple.com/quicktime/qtv/earningsq110/ and will also be available for replay for approximately two weeks thereafter.

*Retrospective Adoption of Amended Accounting Standards

On September 23, 2009, the Financial Accounting Standards Board ratified Emerging Issues Task Force (EITF) Issue 08-1 and EITF Issue 09-3, resulting in the issuance of accounting standard updates ASU 2009-13 and ASU 2009-14. Apple was required to adopt the new accounting standards no later than the first quarter of fiscal 2011. Apple elected to adopt the new standards during the first quarter of fiscal 2010, as reflected in its Quarterly Report on Form 10-Q for the quarter ended December 26, 2009, which was filed with the SEC on January 25, 2010. The Company also filed a Form 10-K/A to amend its Form 10-K for the year ended September 26, 2009 solely to reflect the retrospective adoption of the new accounting standards to the periods presented in that report. Additionally, Apple filed a Form 8-K that included selected quarterly financial schedules reflecting the impact of retrospective adoption of the new accounting standards and reconciling the application of old and new accounting principles to historical income statements, balance sheets, cash flow from operations, deferred revenue and summary data information. These financial schedules will also be available on the Company’s website at http://www.apple.com/investor.

The new accounting principles result in the Company’s recognition of substantially all of the revenue and product cost for iPhone and Apple TV when those products are delivered to customers. Under historical accounting principles, the Company was required to account for sales of both iPhone and Apple TV using subscription accounting because the Company indicated it might from time to time provide future unspecified software upgrades and features for those products free of charge. Under subscription accounting, revenue and associated product cost of sales for iPhone and Apple TV were deferred at the time of sale and recognized on a straight-line basis over each product’s estimated economic life. This resulted in the deferral of significant amounts of revenue and cost of sales related to iPhone and Apple TV.

Because Apple began selling both iPhone and Apple TV in fiscal 2007, the Company retrospectively adopted the new accounting principles as if the new accounting principles had been applied in all prior periods. Consequently, the financial results of each quarter from fiscal 2007 through fiscal 2009 have been revised. The Company believes retrospective adoption provides analysts and investors the most comparable and useful financial information and better reflects the underlying performance of the Company’s business.
 

norsemen

macrumors regular
Apr 2, 2007
146
34
“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO. “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
 
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