Apple Reports Fourth Quarter Results
Apple posted its fourth quarter numbers today, and while the economy may be in a downswing, its clear that the Cupertino based computer company is doing extremely well amidst a sea of worry and doubt.
Apple posted revenue of $7.9 billion and a profit of $1.14 billion for the quarter, which translates to $1.26 per share. This time last year, Apple was posting $6.22 billion in revenue and net quarterly profits of $904 million, meaning revenue and quarterly profit are up about 27% and 26%, respectively. While Apple has traditionally been strong company in the U.S. and weaker internationally, 41% of its total sales came from outside the U.S., undoubtedly fueled by the large numbers of foreign carriers who picked up the iPhone 3G.
In the 4th quarter alone, Apple shipped 2,611,000 Macs, representing a 21 percent jump over Q4 of 2007. More impressive than Mac sales was the iPhone 3G,which sold 6.9 million units, outselling BlackBerry devices as well as outselling the original iPhone over its 5 quarter lifespan. Fueled by international sales, the 6.9 million sold helped Apple to meet its goal of selling 10 million iPhones in 2008, making it one of the most successful products of this year.
Apple announced that it has over 5,500 applications available in its App Store, which should sell its 200 millionth app sometime tomorrow. iPod sales are also up, jumping 8% compared to one year ago, totaling just over 11 million sold in Q4.
“Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone—we sold more phones than RIM,” said Steve Jobs, Apple’s CEO. “We don’t yet know how this economic downturn will affect Apple. But we’re armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt.”
While happy with the quarterly numbers, Apple CFO Peter Oppenheimer emphasized caution. “We’re very pleased to have grown revenue 35 percent and to have generated $9.1 billion in cash in fiscal 2008,” said Oppenheimer “Looking ahead, visibility is low and forecasting is challenging, and as a result we are going to be prudent in predicting the December quarter.”