Apple crushes Profit, iPads Ship 7.3 Million. Apple just put up a monster quarter, and investors should send the stock upwards Wednesday, erasing today’s doubts about Steve Jobs’ health.
Apple’s Q1 EPS was $6.43, beating by a mile, and representing $6 billion in profit. Revenue was massive too, at $26.7 billion, beating consensus by more than $2 billion.
Apple Crushes Earnings (businessinsider)
Apple Crushes Earnings
iPad shipments came in at 7.33 million, way above expectations. Meanwhile, Mac unit sales came in at 4.1 million, slightly below the Street’s 4.3 million consensus. Perhaps the iPad is starting to cannibalize the Mac?
iPhone shipments of 16.2 million beat the Street, and should be strong again next quarter as the Verizon iPhone ships.
Even Apple’s guidance is strong: $22 billion in sales is ahead of the Street’s $20.6 billion consensus, and EPS of $4.90 is way ahead of expectations.
Apple did NOT disclose Apple TV unit sales or iAd revenue.
Key Stats: (Consensus via Yahoo Finance and Piper Jaffray)
* Revenue: $26.74 vs. $24.4 billion consensus, $25.5 billion “high” Street estimate
* EPS: $6.43 vs. $5.38 consensus, $6.02 “high” Street estimate
* iPhone shipments: 16.24 million vs. 15.5 million consensus
* iPad shipments: 7.33 million vs. 6.2 million consensus
* Mac shipments: 4.1 million vs. 4.3 million consensus
* iPod shipments: 19.45 million vs. 20.3 million consensus
* March revenue guidance: $22 billion vs. $20.6 billion Street consensus, anything over $20 billion solid
* March EPS guidance: $4.90 vs. $4.43 Street consensus, anything over $3.92 solid