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Apple who has a massive global spread has reported a 58 percent increase in profits for the last quarter and is now adding an additional $2.43 billion to their cash reserves that now sit at a whopping $23 Billion dollars. This is not bad for a Company that a few years ago was taking handouts from Microsoft in an effort to survive.
Apple who has a massive global spread has reported a 58 percent increase in profits for the last quarter and is now adding an additional $2.43 billion to their cash reserves that now sit at a whopping $23 Billion dollars. This is not bad for a Company that a few years ago was taking handouts from Microsoft in an effort to survive.
Global sales was $14.76 billion for the three-month period ended December 29, 2007. Apple also say that they are expecting sales of $13.9 Billion for this quarter ending in March 09.
The results compare to revenue of US$7.1 billion and net quarterly profit of US$1 billion for thge same quarter in 2007.Gross margin was whopping34.7 percent, up from 31.2 percent in the year-ago quarter. International sales accounted for 45 percent of the quarter’s revenue.
Apple shipped 2,319,000 Macintosh computers during the quarter, representing 44 percent unit growth and 47 percent revenue growth over the year-ago quarter. The company also sold 22,121,000 iPods, representing five percent unit growth and 17 percent revenue growth over the year-ago quarter. Quarterly iPhone sales came in at 2,315,000.
“We’re thrilled to report our best quarter ever, with the highest revenue and earnings in Apple’s history,” said Apple chief executive Steve Jobs. “We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks.”
Overall, Apple’s revenue grew 35 percent year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter’s record-breaking results.
“Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion,” said Apple chief financial officer Peter Oppenheimer. “Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $.94.”
