Hi everyone, I’m Darcy Keith with Globe Investor. Omar El Akkad will be joining us soon too. Welcome to this live blog of Apple’s quarterly earnings, due out within minutes.
Here’s what the Street is expecting. According to polls done by Thomson Reuters, earnings should come in at $10.08 a share, which is 57% higher than the fiscal first quarter of last year. Revenue is expected to climb 45% to $38.85 billion.
Apple’s own forecast, offered back on October 18th, had called for $37 billion in revenue and $9.30 per share.
Apple shares closed down about 1.6% in regular trading.
We'll be watching for guidance as well. For the current quarter, the Street consensus is $32.07 billion and $8.01 per share.
Elsewhere in the tech sector tonight, Yahoo reported earnings in line with forecasts but disappointed on revenues.
Hi everyone. Brace for a barrage of earnings numbers...
Apple, Inc. reports Q1 EPS of $13.87, Sales $46.3B
Once again, Apple destroys the street's numbers.
Last quarter, Apple sold about 11-million iPads. So much for Android and Kindle hurting sales...
Apple shares are halted right now. Reports suggest they will start trading post market at 450 pm ET
37-million iPhones sold in the quarter. During the same period last year, Apple sold 16.2-million.
Long story short: Everything looks off the charts.
Once again, almost all analyst predictions for the quarter proved to be thoroughly worthless.
In terms of revenue, profit and EPS, Apple essentially doubled its results from the same quarter last year.
Apple sees Q2 EPS of $8.50 a share, sales of $32.5 bln. Again, beats the Street, which called for $8.01 a share on revenue of $32.07 billion.
A comment from Bespoke Investment blog: "With the $13.87 number and its Q2 guidance $AAPL is trading at 10.3x '12 EPS. Not bad for a company with EPS growth of 30%+."
The only down number, it seems, is iPods, which dropped about 21 per cent from the same period last year (apparently because people upgraded to iPhones)
Needless to say, the iPad, iPhone and Mac sales numbers are all records.
Apple shares just resumed trading, up 9.4%
A very happy evening for Apple shareholders
Last trade at $458.50, up 9.06%
These are new all-time highs for Apple
Apple has a history of ludicrously low guidance, and analysts have a habit of believing that guidance (for one reason or another). Still, RBC analyst Mike Abramsky makes a good point about the higher than expected guidance Apple has released for the next quarter. Usually, they go pretty low, which means they might be expecting a boost from an iPhone 5 or an iPad 3.
Once again, Apple is within striking distance of Exxon Mobil for the title of world's most valuable company.
Bloomberg notes that these results mark the first time the company’s quarterly revenue topped Hewlett-Packard Co. “It’s a milestone,” Brian White, an analyst at Ticonderoga Securities LLC, said of Apple surpassing Hewlett-Packard in sales. “There are so many growth drivers around this company.”
From Apple CEO TIm Cook in today's earnings report: “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline."
Apple shares pretty stable after the big pop. Last quoted now at $454.51, up 8.11%.
An interesting tidbit from Zero Hedge: AAPL has nearly 5x more cash than France and Germany are willing to provide to recapitalize ECB following a Greek default
Conference call is starting. CEO and CFO are on the call. We're going through the forward-looking statement boilerplate stuff.
CFO Peter Oppenheimer points out there was one extra week in the last quarter.
