Monday, October 22, 2007

Apple Reports Fourth Quarter 2007 Earnings

Today after the close of the market Apple reported their earnings for the fourth quarter of 2007. They handily beat analyst estimates, with EPS of $1.01 and 6.22B in revenue versus estimates of 86 cents per share and 6.05B in revenue. For the holiday quarter (1Q 2008) they expect revenue of 9.2B and $1.42 EPS. Apple shipped over 2.1M Macs, 10.2M iPods and 1.1M iPhones. Gross margin was 33.6 percent. What was really surprising was the guidance for the first quarter of 2008, which was well over analyst estimates which was surprising because Apple is usually very conservative in its guidance, guiding significantly below what the street was expecting but this time they were well over which garnered quite a few questions from analysts during the conference call. Apple (AAPL) was up $3.94 to $174.36 in regular trading today and jumped around $13 or about 7.5% in the after-hours session following the earnings release and conference call.

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