Apple Beats Recession With Its Best Q2 Ever
Best quarterly earnings yet for Apple, but it's not because of Macs
Despite the doom and gloom all around due to the recession, Apple has posted its best second quarter earnings results in company history.
For its fiscal 2009 second quarter ended March 28, 2009 Apple posted revenue of $8.16 billion and a net quarterly profit of $1.21 billion. These results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion at the end of the same quarter a year ago.
Yes, Apple is making more money off each sale than it did last year. Gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter.
As much PC/Mac talk goes on here though, it wasn’t sales of computers that gave Apple its recession-beating numbers. In fact, sales of Mac desktops and notebooks at 2.22 million is a 3 percent decline from a year ago. iPods were up just 3 percent, selling an impressive 11.01 million during the quarter. The real growth came from the iPhone, selling 3.79 million, representing 123 percent unit growth over the year-ago quarter.
“We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history,” said Peter Oppenheimer, Apple’s CFO. “Apple’s financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00.”
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good for you guys
It doesn't matter which Apple product has made them the money, they've done it through the same basic premise - basic or subpar hardware wrapped in an ultra shiny exterior to make the superficial drool and pay an exorbitant amount of money for it.
Low cost, high profit - perfect for beating a recession.
It doesn't matter which Apple product has made them the money, they've done it through the same basic premise - basic or subpar hardware wrapped in an ultra shiny exterior to make the superficial drool and pay an exorbitant amount of money for it.Low cost, high profit - perfect for beating a recession.
I agree. The likes of us, who actually attempt to find out what's inside a product we wish to buy are few. There's way more people out there who are not really interested in what lies beneath, most people are sold by looks alone. I'm pretty sure it's the same in the car industry.
As much as I hate Apple, I have to give them credit for creating quality products (in terms of build) that really do sell.