apple earnings
Apple Crushes It, Sells 3.27 Million iPads In June Quarter
Apple totally crushed it last quarter as expected, and even Apple’s guidance is impressive.
iPad, Mac, and iPod shipments were all stronger than expected: Apple shipped 3.27 million iPads, 3.47 million Macs, and 9.4 million iPods during the June quarter.
The strong Mac number means that iPads are not (yet) cannibalizing the Mac business — an especially good sign.
“These numbers will go a long way to make people forget about any antenna issues,” said Edward Jones analyst Bill Kreher.
Although the iPhone and iPad generated most of the headlines, it was the Mac computer that helped make the quarter for the company. Apple said it sold 3.47 million Macs in the quarter, along with 9.41 million iPods, 8.4 million iPhones and 3.27 million iPads.
The company reported fiscal third-quarter earnings of $3.51 a share excluding one-time items, up from $1.35 a share a year ago.
Revenue leaped to $15.7 billion, up from $8.337 billion last year.
Analysts polled by Bloomberg expect Apple to report profit of $2.87 billion, or $3.09 per share, compared with $1.23 billion, or $1.35 per share, last year. Overall revenue is expected to increase by 76% to $15 billion.
It will be the strongest quarter by revenue in the history of the 34-year-old company, which earlier this year surpassed erstwhile rival Microsoft (MSFT) in market capitalization. This is the first time Apple has approached Microsoft’s quarterly cash haul of $15 billion in sales.
Sales for the fiscal third quarter ended last month were $15.7 billion, up nearly double from the $8.34 revenue lever last year, and a whopping $1 billion above analysts’ estimates calling for sales of $14.7 billion.
Apple’s results were driving shares upward in afterhours trading by more than 3% to $259.27.
