Apple Inc (AAPL)

[Bootz]

Apple "firing on all cylinders" says Jobs

Posted by Philip Elmer-DeWitt
January 18, 2011 5:01 PM

Profits up 78%, revenues 71%. 16.2 million iPhones, 7.4 million iPads crushed expectations


Source: Google Finance

Steve Jobs' health problems were all but forgotten as Apple (AAPL) reported all-time record earnings Tuesday afternoon. The stock, which lost $7.83 during the day, quickly jumped more than $11 in after hours trading.

Sales for nearly every Apple product blew past analysts' expectations, but sales of iPads and iPhones were particularly strong.

"We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales," said Steve Jobs in a prepared statement. "We are firing on all cylinders and we've got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can't wait to get their hands on."

The numbers:


Sales: $26.74 billion, up 70.05% year over year

Profits: $6.43 billion, up 75.2%

EPS: $6.43, up 77.6%

iPhone: 16.24 million units, up 85.8%

iPad: 7.33 million units, compared with Wall St. consensus of 6.15 million

Mac: 4.13 million units, up 22.9%

iPod: 19.45 million units, down 7.3%

iPod touch: more than 50% of total iPod sales

Gross margin: 38.5%, compared with guidance of 36%

Revenue guidance for Q2: $22 billion

EPS guidance for Q2: $4.90

Apple stores: $12 million average revenue per store, up 69% from Q4

Cash and marketable securities: $59.7 billion, up from $51 billion in Q4.

"Net-Net: Apple pulls off a Holiday Hat Trick," wrote RBC Capital's Mike Abramsky in a quick note to clients. "Large iPad beat, with iPhones and Macs meeting high expectations. Margins very strong."