Tuesday, January 24, 2012

Apple Crushes Profit Estimates as iPhone, iPad Sales Soar

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Apple reported Q1 2012 earnings after the close Tuesday...and well they just crushed them...blowing away street estimates on earnings revenues and units sales.

Fiscal first-quarter earnings excluding items of $13.87 a share, double the $6.43 a share recorded in the year-earlier period.
Revenue jumped 73% to $46.3 billion from $26.74 billion a year ago.
Analysts had expected earnings excluding items of $10.10 per share on revenue of $38.9 billion, according to a consensus estimate from Thomson Reuters. The company also said it ended the quarter with $97.6 billion in cash.

It sold 37 million iPhones, 15.4 million iPads and 5.2 million Macs during the quarter — all new records and all beating analysts' expectations.

These results off of iPad 2 and iPhone 4S and with the passing of CEO Steve Jobs. ITZ expects 2012 to deliver the same as Apple plans on delivering several new products iPad 3, iPhone 5 and perhaps iTV.

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