Feeds

Apple annihilates Wall Street performance estimates

Third fiscal quarter results 'best quarter ever' (again)

Secure remote control for conventional and virtual desktops

With another fiscal quarter now in the bank, Apple has again embarrassed Wall Street analysts.

The Cupertinian juggernaut posted its financial results for its third fiscal quarter of 2011 on Tuesday, and the numbers were – to understate a wee bit – quite satisfactory.

"We're thrilled to deliver our best quarter ever, with revenue up 82 per cent and profits up 125 per cent,” said CEO Steve Jobs.

The Wall Street moneymen, according to consensus estimates from Thomson Reuters, had expected net income to be up 65 per cent. The money folks had expected revenue of $24.9bn; Apple posted $28.57bn.

The Street was looking for earnings per share of $5.80; Apple posted results of $7.79 per share. During the same quarter last year, earnings per share were about half this most-recent quarter, at $3.51 per share.

Sales of the iPhone were up 142 per cent year-on-year to 20.34 million. Nine and a quarter million iPads were sold, a 183 per cent increase over the year-ago quarter – the iPad shipped on April 4, 2010, about one month into that quarter.

Mac sales were up, as well, though not nearly so spectacularly: Apple sold 3.95 million Macs in the quarter, a 14 per cent increase. As expected, iPods continued their steady decline, dropping 20 per cent to 7.54 million.

Apple may be playing rope-a-dope with its estimates for the next quarter. "Looking ahead to the fourth fiscal quarter of 2011," said CFO Peter Oppenheimer, "we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50." According to MarketWatch, analysts are expecting higher projections: revenue of $27.7bn and earnings of $6.42 per share.

We'll see. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

Driving business with continuous operational intelligence
Introducing an innovative approach offered by ExtraHop for producing continuous operational intelligence.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.