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Apple Reports $6.40 EPS vs $5.36 Consensus, $24.67 Billion In Revenue, Outlook Weak
Apple beats top and bottom line, but not all is good in Borg land - Apple fails to meet the top and bottom line outlook.
- APPLE 2Q REVENUE $24.67B, EST. $23.38B
- APPLE SEES 3Q EPS ABOUT $5.03, EST. $5.25
- APPLE 2Q SOLD 9.02 MILLION IPODS, DOWN 17%
- SOLD 3.76 MM MACS IN Q2, UP 28%
- SOLD 18.65 MM IPHONES IN Q2, UP 113%
- APPLE SEES 3Q EPS ABOUT $5.03, EST. $5.25
Once again the key variable is the outlook: In Q3 Apple sees revenue of $23 billion to $23.83 billion, and
EPS of $5.03 to $5.25. Consensus has revenue at $23.83
billion, and $5.25 in EPS.
The release:
CUPERTINO, California—April 20, 2011—Apple® today announced financial results for its fiscal 2011 second quarter ended March 26, 2011. The Company posted record second quarter revenue of $24.67 billion and record second quarter net profit of $5.99 billion, or $6.40 per diluted share. These results compare to revenue of $13.50 billion and net quarterly profit of $3.07 billion, or $3.33 per diluted share, in the year-ago quarter. Gross margin was 41.4 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
Apple sold 3.76 million Macs during the quarter, a 28 percent unit increase over the year-ago quarter. The Company sold 18.65 million iPhones in the quarter, representing 113 percent unit growth over the year-ago quarter. Apple sold 9.02 million iPods during the quarter, representing a 17 percent unit decline from the year-ago quarter. The Company also sold 4.69 million iPads during the quarter.
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO. “We will continue to innovate on all fronts throughout the remainder of the year.”
“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 billion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $5.03.”
And the provided data sheet:
| Q1 2011 | Q2 2010 | Q2 2011 | Sequential Change | Year/Year Change | ||||||||||||||||||||||||||||||||||||
| CPU Units K |
Revenue $M |
CPU Units K |
Revenue $M |
CPU Units K |
Revenue $M |
CPU Units | Revenue | CPU Units | Revenue | |||||||||||||||||||||||||||||||
|
Operating Segments |
||||||||||||||||||||||||||||||||||||||||
|
Americas |
1,360 | $ | 9,218 | 971 | $ | 4,993 | 1,217 | $ | 9,323 | - 11 | % | 1 | % | 25 | % | 87 | % | |||||||||||||||||||||||
|
Europe |
1,245 | 7,256 | 899 | 4,050 | 995 | 6,027 | - 20 | % | - 17 | % | 11 | % | 49 | % | ||||||||||||||||||||||||||
|
Japan |
162 | 1,433 | 129 | 887 | 155 | 1,383 | - 4 | % | - 3 | % | 20 | % | 56 | % | ||||||||||||||||||||||||||
|
Asia Pacific |
516 | 4,987 | 338 | 1,886 | 596 | 4,743 | 16 | % | - 5 | % | 76 | % | 151 | % | ||||||||||||||||||||||||||
|
Retail |
851 | 3,847 | 606 | 1,683 | 797 | 3,191 | - 6 | % | - 17 | % | 32 | % | 90 | % | ||||||||||||||||||||||||||
|
Total Operating Segments |
4,134 | $ | 26,741 | 2,943 | $ | 13,499 | 3,760 | $ | 24,667 | - 9 | % | - 8 | % | 28 | % | 83 | % | |||||||||||||||||||||||
| Revenue | Revenue |
Revenue |
Sequential Change | Year/Year Change | ||||||||||||||||||||||||||||||||||||
| Units K | $M | Units K | $M | Units K | $M | Units | Revenue | Units | Revenue | |||||||||||||||||||||||||||||||
|
Product Summary |
||||||||||||||||||||||||||||||||||||||||
|
Desktops (1) |
1,227 | $ | 1,731 | 1,147 | $ | 1,532 | 1,009 | $ | 1,441 | - 18 | % | - 17 | % | - 12 | % | - 6 | % | |||||||||||||||||||||||
|
Portables (2) |
2,907 | 3,699 | 1,796 | 2,228 | 2,751 | 3,535 | - 5 | % | - 4 | % | 53 | % | 59 | % | ||||||||||||||||||||||||||
|
Subtotal CPUs |
4,134 | 5,430 | 2,943 | 3,760 | 3,760 | 4,976 | - 9 | % | - 8 | % | 28 | % | 32 | % | ||||||||||||||||||||||||||
|
iPod |
19,446 | 3,425 | 10,885 | 1,861 | 9,017 | 1,600 | - 54 | % | - 53 | % | - 17 | % | - 14 | % | ||||||||||||||||||||||||||
|
Other Music Related Products and Services (3) |
1,431 | 1,327 | 1,634 | 14 | % | 23 | % | |||||||||||||||||||||||||||||||||
|
iPhone and Related Products and Services (4) |
16,235 | 10,468 | 8,752 | 5,445 | 18,647 | 12,298 | 15 | % | 17 | % | 113 | % | 126 | % | ||||||||||||||||||||||||||
|
iPad and Related Products and Services (5) |
7,331 | 4,608 | 0 | 0 | 4,694 | 2,836 | - 36 | % | - 38 | % | N/ | M | N/ | M | ||||||||||||||||||||||||||
|
Peripherals and Other Hardware (6) |
593 | 472 | 580 | - 2 | % | 23 | % | |||||||||||||||||||||||||||||||||
|
Software, Service and Other Sales (7) |
786 | 634 | 743 | - 5 | % | 17 | % | |||||||||||||||||||||||||||||||||
|
Total Apple |
$ | 26,741 | $ | 13,499 | $ | 24,667 | - 8 | % | 83 | % | ||||||||||||||||||||||||||||||
»
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Gonna buy ANOTHER Android.
Why? Is your Android unstable and unreliable too?
Just broke on MSM. One bad AAPL spoils the bunch.
======
Apple iPhone tracks users' location in hidden file
Apple iPhone users’ movements are being tracked and stored without their knowledge in a file that could easily be accessed by a snooping employer or jealous spouse, security researchers have founnd.
By Christopher Williams, Technolgoy Correspondent 5:35PM BST 20 Apr 2011 14
The continually-updated log is held on both the iPhone and the computer it connects to and contains a list of coordinates, and associated timestamps. The records go back to the release of the fourth iteration of the iOS operating system in June last year.
The true contents of the enigmatically-named file “consolidated.db” were discovered by two British software developers who were working on ways of visualising location data for websites.
“At first we weren’t sure how much data was there, but after we dug further and visualised the extracted data, it became clear that there was a scary amount of detail on our movements,” said Alisdair Allan and Pete Warden. Mr Warden previously worked for Apple in an unrelated area.
Mobile network operators keep records of users’ movements based on which masts they are connected to, which police and intelligence agencies can access legally. The data stored by the iPhone could however be accessed by anyone with access to it or the computer it connects to, and is not protected by a password or encryption.
Mr Allan and Mr Warden have set up a website to publicise their findings and allow iPhone users to test whether their movements are being recorded. To further highlight the issue they have developed a simple application that plots the coordinates and timestamps on web-based mapping software.
Apple’s reason for recording the data is unclear and its spokesmen did not return calls requesting comment.
“One guess might be that they have new features in mind that require a history of your location, but that’s pure speculation,” said the researchers, adding that the way the data is copied between the iPhone and computer indicated it was not gathered accidentally.
Other technology giants including Facebook and Google encourage users to hand over location data partly because it is potentially valuable to advertisers. Dr Ian Brown, a senior research fellow at the Oxford Internet Institute, said: “I certainly think it's something they should have brought much more to the attention of the user, and that it should only be switched on after an explicit user decision.”
Daniel Hamilton, director of the privacy lobby group Big Brother Watch said: “iPhone users will rightly be concerned that their movements are being covertly monitored in this way. “Apple has a duty to immediately provide their customers with details about how to disable this invasive software."
http://www.telegraph.co.uk/technology/apple/8464122/Apple-iPhone-tracks-...
I was just reading about that...more here;
Why is Apple collecting this information?It’s unclear. One guess might be that they have new features in mind that require a history of your location, but that’s pure speculation. The fact that it's transferred across devices when you restore or migrate >>>is evidence the data-gathering isn't accidental.<<<
http://petewarden.github.com/iPhoneTracker/
But they're such nice boys ;-)
Hmm why? Profiling. Listing contacts.
http://latimesblogs.latimes.com/technology/2011/04/pandora-app-android.html
Exactly.
Here's the thing...one signs up for a service, not to be tracked by Big Sis or profiled for future "sales" by corps.
Most knew way back in the day to drop the battery out to drop off the grid...now it's not much different to beat it...even with the little power chips...the whole exercise is useless for someone who really wants to be "unseen".
Good Lord. Apple is last to the tracking party.
Every cellular carrier in the US does this realtime on every phone and has been for almost a decade.
Like that Patriot Act do you (under the guise of E911).
More from: http://petewarden.github.com/iPhoneTracker/
What’s so bad about this?
The most immediate problem is that this data is stored in an easily-readable form on your machine. Any other program you run or user with access to your machine can look through it.
The more fundamental problem is that Apple are collecting this information at all. Cell-phone providers collect similar data almost inevitably as part of their operations, but it’s kept behind their firewall. It normally requires a court order to gain access to it, whereas this is available to anyone who can get their hands on your phone or computer.
By passively logging your location without your permission, Apple have made it possible for anyone from a jealous spouse to a private investigator to get a detailed picture of your movements.
We do know it...I think the issue here is, the American Idol, BBC Braindead, Obamaphile etc. crowd doesn't know it.
Just sayin.
Why?
AAPL fanbois unite!
I have never seen so many otherwise rational people overtly tie their self-worth to a company and it's products before in my life.
You mad bro?
Why would I be mad? I'm not short AAPL. Just pointing out what should be obvious.
Why did you junk me? You mad, bro?
I don't own stock. PM's FTW! And I junked you cuz you take me liking Apple gadgets way too serious, i didn't join the cult, they just happen to make the BEST mobile devices atm.
Interesting. My reply wasn't directed at you at all, in fact you had not posted before I started to compose my post.
Odd that you would think I was referring to you specifically.
I like AAPL products in a lot of respects, I work with them every day.
A number of the people that use them, different story.
Take yourself as an example. Trolling this thread, first post blasting the whole of ZH as unable to "understand" the greatness that is AAPL.
And you don't even own the stock.
Sounds like you mad to me, bro, and you can't fucking read! Go look at my comments again you clown and tell me how many times I mention " the greatness that is AAPL".
I don't think you understand the meaning of the word "mad."
The ZH crowd is blinded with Apple hate so they can't see (much less understand) the obvious.
I'm not sure what kind of response you expected.
RobotTroll would be proud.
Fail. I was referring to the fact that most people on ZH blast Apple products as "overpriced junk" when in reality they can't make products like the iPad 2 fast enough. It should be OBVIOUS that people love these products, and Apple increasing revenue by 83% year/year is a pretty clear indicator. But whatever I guess. Haters gonna hate.
Why does ZH have to look for the fecal lining on everything? Seriously this was a blowout quarter, and Apple *always* sandbags their guidance so why even point that out?
In my mind this kind of story really discredits this site, and ZH should stick to reporting commodities and things where there is a more insightful contrarian angle than just booing stocks.
Right.
You were trolling a thread where one person used the term "overpriced junk" and then immediately go on to apply that attitude to the whole of ZH.
But you weren't trolling, right?
Right.
The results speak for themselves.
AAPL products are not overpriced junk.
You are not your iPhone.
Fuck ZH has the WORST comment system ever!
Not a fanboy, but have an Apple TV and ipod.
People are gaga for the integration (not calculus) and AAPL has this nailed.
Thinking it's just Apple-cult is an amateur mistake. Ask Middleton, I've been taking his money for months.
apple about to slip on a banana?
So buy with 1 hand and sell with the other? Probably all made up numbers except for the Q3.
AAPL always underpromises and usually overshoots. That said, I'm still not gonna drink its koolaid.
AAPLjuice.
They low-ball the guidance every quarter on the conference call to set up another "easy beat" for next quarter.
Pavlov's dogs have now been conditioned to ignore lowered guidance. The fact that the stock is going ballistic right now is clear evidence of this.
Buy on lowered guidance, buy with both fists on higher guidance. It will continue to work until it doesn't.
Up 2.5% AH is not "going ballistic," especially by the lofty standards AAPL sets for itself.
Flat to down by tomorrow morning.
.
Picky Picky. Apple is the undisputed fucking king.
King of your world maybe. I'm sure their catalog is masturbation fodder for you. Live long and prosper
Indeed - and I don't even own any AAPL products. Even with their conservative guidance and present earning trends, the stock is still only selling for around 15x EPS. Damned good for that kind of large cap growth.
I say this not to push the stock. I say this because they are good products. They work. Pure and simple.
Pretty impressive quarter over quarter.
As far as them undershooting their outlook, gosh I thought everyone did.
mmmmmm........
sweet sweet edible iPads
I love the taste of aluminium and glass in the morning.
Beware of the "glow in the dark" models delivered soon.
Don't they always give conservatively low guidance ... that way when they beat, they look like a hero and the manipulation is allowed to continue. Apple to $1,000 a share!!! Goes to show just how overpriced their junk really is though doesn't it?
As they say... not overpriced if people are buying it...
As long as their is an ass for every seat, the cult will thrive
Well said Dolemite.
It can't be overpriced if folks are still buy their products with both fists. I would argue that the masses think the products are fairly priced.
Amen! The ZH crowd is blinded with Apple hate so they can't see (much less understand) the obvious.
Let me guess:
Long AAPL and proud owner of iPhone and iPad, right?
I am a proud iPhone owner but no iPad. I don't need one, at this point its more of entertainment device IMO.
And you are really, really proud of that iPhone, right?
Well I like it, but if a better device comes along, from ANY company, bye bye iPhone 4.
AAPL will be a SELL when one of these other lame technobabble companies can come to market first with a new gadget that is reliable and desirable so that AAPL has to play copycat for once. Until that happens, it is safe to hold AAPL until the the cracks in GDP start getting larger.
AAPL has room to grow. They still only have a small percentage of the home computing market. And I agree they make a very very good product. I have no i-anything...just a MAC Pro. Bought it more than 5 years ago and it has been an absolute monster. Never a single problem...and I run it like hell. Trading 12 hours a day and Film/Video editing. It's a great machine.
As far as the stock goes...perhaps I should have held it longer. I sold it all at $250...but then again...that was the target price I set for myself when I bought it...in 1997. Do the math. No regrets.
Compare AAPL with BIDU and it's triple digit PE and AAPL looks cheap by comparison.
E*Trade just reported and blew estimates away for revenue, either the only people buying besides the algos is retail people or somebody is telling porkies.
Must have been that baby.
What's amusing is the quarterly profits of Apple would cover the US government borrowing requirements for about 36 hours... I am sure this is bullish somehow....
Day or half a day of POMO; i only bother thinking in those terms these days.
I just looked at the CNBC version of this.... no mention of the Q3 downgrade ANYWHERE!!! lol I can just see all the apple sheeple smacking their e-trade buy buttons right now ;-)
APPLE SEES 3Q EPS ABOUT $5.03, EST. $5.25
They have less than a billion shares outstanding. Uh lets see here, in Q2 which is always a shitty quarter, the 7-8 billion a quarter they are earning goes down by 220 million or so. Yeah its curtains time. Quarterly earnings that would be considered great if it happened once a year to most of the Fortune 500 companies and people go nuts over a short quarter by a company that is notorious for giving conservative forecasts when Q2 ( calendar) is usually right in line with Q3 their two worst quarters. Interestingly enough they have a huge iPad order backlog. Yeah, I would lay on a big short in front of that.HAHAHA
Edit: Ah, now I'm really pissed. Cash only went up by 6 Billion to 66 B +/- and the forecast for this quarter was wait for it...$3.99 eps which came in at $6.36 and they raised guidance from $3.99 to $5.03 eps. The analysts expectation was 5.25 for next quarter. Unreal. This company doesn't even sell a commodity like oil.
Absolutely this has to slow down some point , I mean the company is at a 100 Billion run rate on the top line and with 66B in cash. Keep in mind CSCO had a half trillion valuation in 2000 with 18 Billion a year in sales. Snort.
...and the sheeple can't get enough of this shit with government checks.
Apple to 1,000; the Russell 2000 to 1000. The dollar to zero. Oh, but wait? Yields? No problem. 3.4% on the 10 year. All is normal.
Seriously, WTF?
Seems like 'let them eat iPads' is coming true... that is the only thing people are doing
Too big. Try the iphone. It has less calories
Apparently everything is so good, wheres the need for QE3? Gee how are we gonna sell that now?
interesting, lots of computer people are buying mac's becauseeeeeeee?
did you know apple has a software installed in the iphone and i think ipad, that tracks your GPS's your every move and stores it maybe for a year or more. plus when you download your iphone etc. to your mac it stored all your travels and destinations etc. this is absolutely creepy. i swear to god why has apple put all this tracking shit on my phone? i am pissed. would this GPS work if you don't have cell service? also if you don't have 3G when out and about? i think this constitutes serious privacy issues. apple is in with big brother.
apple, sucks dick†
official count down to civil disobedience day, bitchez.
Well, I have a personal Macbook and work gave me a Dell. The Macbook can run BOTH MacOS AND Windows. The Macbook is solidly put together whereas the Dell has a loose-plastic cheesy feel (not to mention it sporadically HW freezes).
I used to look down at Macs as over-priced POS's, but Apple got the price down over the years and deliver value-added.
I own NO Apple stock. Nor, am I an Apple fanboy. I own an iPhone as well, but don't really care/need/want an iPad....
I bought a Dell once, piece of shit. Had nothing but trouble with it. I would never buy a Dell piece of garbage again!
Quit complaining...and get back in the camera sight please.
Jesus tap dancing Christ, gotta love the haters. Here is an American success story, 35 years in the making, and we still have assholes that cheer for Korean and Japanese competitors or claim it's all a sham. If you want to rag on abject failure, direct your shit at Steve Ballmer and his asshat brigade over at MSFT. They've been screwing shareholders for ten years and counting.
I'm yawning.
AAPL makes great products.
I do not worship them.
I have a feeling that the haters are just bitter because they missed the boat. Disclosure: The only thing Apple I own is it's stock, and I'm certainly not sorry.
I think Apple is evil, pure and simple. However, they make stuff that works well and as long as you have the money and don't care about lock-in, fine. My elderly folks have Macs and love them.
I woudn't touch them with a 10 foot pole. Linux, baby.
Good one, and don't you want to know that AAPL is up your skirt?
Linux to the core, Apple core (BSD offshoot).
.
If they can afford Apple's expensive products, then they can afford $200 a barrel oil...
.... so give it to the sheep.
Interesting that the only real growth was in Asia. Not surprising. Units sold down all other locations. Not really good at all.
Yeah, only 3/4 of the world's population lives in Asia.
Maybe good for AAPL but certainly not good for the US. Then again, how much longer till rapidly raising inflation severly hampers Asia's buying power?
A decade's worth of comparison. Biggest cap tech stock vs. the biggest cap PM stock:
Eric King, John Hathaway, Rick Rule, etc. must be shaking their heads in utter disappointment.
robottrader still shaking his head, projecting his underperformance and shrinking seed capital account onto successful men and investors.
utter disappointment for the world's worst investor, who continues to scour the land to find company for his misery.
hope to see you at the gata conference, where you might learn how to invest.
There you go again.
Robo...you have reduced yourself to coming across like a complete asshole and imbecile.
you've managed to go from witty to classless in such a short span of time that it's actually sad to see.
+1
It is unfortunate.
Sorry friend. I guess I'd be pissed off too if I had missed one of the greatest stock market runs in history, expecting the collapse and crash that never seems to happen.
Fortunately, I've been long 95% of the time, after learning my lesson not to be a perma-bear back in 2004.
And also learned that diversification is the key to trading success, not to have all your eggs in the PM basket, which is the road to ruin for many.
Diversification is simple for RoboDouche, simply wait till after close and earnings reports, then compose your trading positions. Keep plenty of windex handy to make those rear view mirrors attached to your monitor nice and sparkly clean for best viewing.
Well except for the time he posted people selling gold right when the market opened. Saying smart people sell gold at 1500. Then came back 6 hours later to 1505 gold price.
And that time was yesterday.
No man...some of us just trade the market with complete awareness that it's just a fuckin ponzi scheme. We get in and get out and never hold a position over night. I manage to make a living that way but I never delude myself into thinking that this "bull market" is anything more than what it is...Bullshit.
The only difference between us is that I do not delude myself and I do not play Monday morning quarterback as you seem to do so proudly. As far as I can see, 100% of your calls are hindsight...and that doesn't amount to shit in my book. Any fuckin fool can tell you what went up yesterday...
Play what you see not what you hope.
Best pick I ever gave to a bunch of academic wonks in '98 -- AAPL at $11.
I wish I took my own advice.
Robo, don't let the [master]haters get to you.
At this point he really is just a nothing to offer asshole.
How about reporting this Tylor.
http://www.minyanville.com/dailyfeed/2011/04/20/apple-secretly-tracking-iphone-ipad/?camp=syndication&medium=portals&from=yahoo
Yes of course Apple is in with the new world order, all of them are, Google is CIA, Yahoo is no different.
FFIV and VMW scream +20% on less good news than AAPL and all AAPL can muster is a crummy 2% ah gain. Where's Pomo
My wife won an IPad a month ago ... it was a huge hit for a few weeks. Now the kids don't even play with it.
I think we're getting tech tired in our house. Have the computers/phones/tvs and they don't do anything for me. Thinking about going outside ... maybe going hiking.
Middle finger to narcissism, FTW.
I won an IPhone, within a month I went back to my Blackberry.
Apple says Fukushima didn't impact shipments or delivery...
Ya when you make up 1/2 to 2/3rds of your business. All you gotta do is re fractionally reserve your actual sales.
As much as I hate to say it, because I think this whole market is a ponzi, but if AAPL really earned what they said tonight, it makes AAPL a $425 stock with a conservative PE.
Benny is going to use this to push this market way way up once again.
I think its great, I was hoping Apple would blow-out because it turns the screws on the FED. How to make the case you desperately need to continue supporting everything with printing trillions when youre also making the case that everythings fine? Walking a tightrope over the grand canyon in a wind storm.
And I dont care what earnings are, let them keep pushing up this farce in the face of a crashing dollar, hell accelerate it fast as they like its fine with me.
Here is one more reliable source tyler.
http://www.thestar.com/business/companies/apple/article/977723--your-iphone-4-and-ipad-3g-are-recording-all-of-your-movements?bn=1
13 billion. That's the number that has poured into Apple after-hours.
A non-cash 38 billion budget cut on 1.6 trillion in unfunded deficit spending.
Questions?
Yes. What $38 billion budget cut?
Thank you Apple.
Great Products
Great Support at their Stores
Great Ecosystem
Great App Development Environment
Great Stock
Profit!!!
Apple haters are the most deluded to a true success story because their years of smirking about how Apple should just go out of business and let MS do real computer work has failed them.
Also,,, developing for the web? Ah, the Unix underpinnings are glorious too.
WebObjects, PHP, Python, Ruby, MySql, Postgres, Wikis, etc.
Time for me to keep busy writing apps.
Until they run out of parts from Japan to ship to China to make more i$
So how amny FOXCONN people killed themselves? Is this in the report. O i forgot, AAPL only hires slaves to ensure they f u over.
Has anyone asked the obvious question of where is apple going to get the ability to pay out dividends worth a present value of 315 BILLION dollars (apples current market cap)? Not to mention, what happens to overpriced electronics when the day of reconing comes to the US treasury?
At the current valuation and the price point, no need for divis,. They learnt that from BRK. Oracle said no point in divis. As far as the overpriced, Americans can eat IPADS and IPHONES after it is all said and done.