Profits up 78%, revenues 71%. 16.2 million iPhones, 7.4 million iPads crushed expectations
Steve Jobs’ health problems were all but forgotten as Apple (AAPL) reported all-time record earnings Tuesday afternoon. The stock, which lost $7.83 during the day, quickly jumped more than $11 in after hours trading.
Sales for nearly every Apple product blew past analysts’ expectations, but sales of iPads and iPhones were particularly strong.
“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs in a prepared statement. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”
The numbers:
- Sales: $26.74 billion, up 70.5% year over year
- Profits: $6 billion, up 77.7%
- EPS: $6.43, up 75.2%
- iPhone: 16.24 million units, up 85.8%
- iPad: 7.33 million units, compared with Wall St. consensus of 6.15 million
- Mac: 4.13 million units, up 23%
- iPod: 19.45 million units, down 7.3%
- iPod touch: more than 50% of total iPod sales
- Gross margin: 38.5%, compared with guidance of 36%
- Revenue guidance for Q2: $22 billion
- EPS guidance for Q2: $4.90
- Gross margin guidance: 38.5%
- Apple stores: $12 million average revenue per store, up 69% from Q4
- Cash and marketable securities: $59.7 billion, up from $51 billion in Q4.
“Net-Net: Apple pulls off a Holiday Hat Trick,” wrote RBC Capital’s Mike Abramsky in a quick note to clients. “Large iPad beat, with iPhones and Macs meeting high expectations. Margins very strong.”
Apple’s press release is available here. A transcript of the earnings call is available here.
[Follow Philip Elmer-DeWitt on Twitter @philiped]