Apple’s SEC filing just hit the wires and it’s a doozy: $10 billion in sales and things as rosy as a the cheeks of an Irish lass on a brisk morning. Apple’s gross margin is up 34.7 percent from last year and we’re supposedly in some sort of recession. Nearly 23 million iPods were sold this quarter and over 2.5 million Macs were sold. The iPhone continues to sell well for Apple with over 4 million units sold.
Can someone please tell me why investors are freaking out just because Jobs is sick? I’ve said this from the beginning and I’ll say it again, Apple will continue to sell iPods and MacBooks with or without Jobs. Consumers don’t care who heads the company. So long as the products continue to be ‘pretty’ and evolve as they have in the last decade they’ll sell. Who’s going to design all the fancy new hardware? The same guys and gals who’ve been doing so for the last decade or however long it’s been.
Apple Reports First Quarter Results
Best Quarterly Revenue and Earnings in Apple History
iPod Sales Set New Record
CUPERTINO, California—January 21, 2009—Apple® today announced financial results for its fiscal 2009 first quarter ended December 27, 2008. The Company posted record revenue of $10.17 billion and record net quarterly profit of $1.61 billion, or $1.78 per diluted share. These results compare to revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, equal to the year-ago quarter. International sales accounted for 46 percent of the quarter’s revenue.
In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone™ and Apple TV® over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.8 billion of “Adjusted Sales” and $2.3 billion of “Adjusted Net Income.”
Apple sold 2,524,000 Macintosh® computers during the quarter, representing nine percent unit growth over the year-ago quarter. The Company sold a record 22,727,000 iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 4,363,000, representing 88 percent unit growth over the year-ago quarter.
“Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history—surpassing $10 billion in quarterly revenue for the first time ever,” said Steve Jobs, Apple’s CEO.