Wednesday, April 23, 2008

Apple Reports Second Quarter 2008 Earnings

Apple reported their second quarter earnings today. The company brought in $7.51B on a net profit of $1.05B and earnings per share of $1.16. Estimates on the street were $1.06 per share and revenue of $6.9 billion while Apple had forecasted revenue of $6.8 billion and EPS of $0.94. In the second quarter Apple shipped 2.3M Macs, 10.6M iPods, 1.7M iPhones with gross margin at 32.9%. For the third quarter of 2008 they expect revenue of $7.2B and EPS of $1.00. Apple shares closed up $2.69 to $162.89 in regular trading today. The press release was issued at about 2:30 PST and in after-hours the shares jumped to around $170 before pulling back to $160-$162. The conference call is set to begin at 2:00 PST.

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