Apple Inc. (NASDAQ: AAPL) held up much better than many would have expected on the sad news that Steve Jobs is taking another medical leave of absence, but the hope was there for the earnings report and that kept shares from heading too far south despite the caution. The Cult of Mac reported earnings of $6.43 EPS and $26.74 billion in revenues. Thomson Reuters had estimates of $5.38 EPS and $24.38 billion in revenues.
iPad sales were listed as 7.33 million and iPhone sales were listed as 16.2 million units. Mac sales were 4.13 million units. The company generated $9.8 billion in cash flow from operations during the December quarter. We went ahead and broke out Apple’s liquidity, and that figure is now just under $60 billion at $59.707 billion versus $51.011 billion just one quarter before. We broke these out individually below:
Liquidity DEC.25. SEP.25
CashEq $10.734 $11.261
ShrTrm $16.243 $14.359
LngTrm $32.730 $25.391
The company’s gross margin came in at 38.5% compared to 40.9% in the year-ago quarter. The biggest number is that Apple said international sales accounted for some 62% of the quarter’s revenue.
As far as guidance, Apple called for revenue of about $22 billion and diluted earnings of about $4.90 EPS. Estimates for the next quarter are $4.43 EPS and $20.62 billion in revenues.
Steve Jobs was quoted in the release calling on record Mac, iPhone and iPad sales; and he noted, “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.”
Apple shares closed down 2.25% at $340.65 after having been down as much as 5% earlier and after a $348.48 new all-time high on Friday. Apple shares were halted in the after-hours right before the news, so this is going to be considered unfinished business until tomorrow’s opening bell. As of 5:00 PM EST in the after-hours, shares are trading at $347.30 but had briefly been over $350.00 at new all-time highs.
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