Apple Posts Record Quartely Profits
Apple has posted its fiscal Q1’08 results and it’s clearly the best quarter ever for the Cupertino company. Apple sold 2.3 million Macs, 2.3 million iPhones, and 22 million iPods totaling a gross revenue of $9.6 billion and $1.58 billion in net revenue. Revenues for the quarter were up 35% year-over-year. The consensus analysts earnings per share ( EPS ) estimates was $1.63 while Apple handily beat that figure posting $1.76.
Apple, however, guided Wall Street lower for fiscal Q2’08 with revenue of $6.8 billion and earnings of 94 cents a share while analysts were expecting revenue of $6.98 billion and EPS of $1.09. Another disappointment: iPod growth year-over-year was up a mere 5%.