Apple: Another Walk-Off Home Run Quarter

Apple Inc (NASDAQ: AAPL) usually beats Wall Street expectations, but for the most recent quarter, it outdistanced them by a mile.

Apple posted record revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share. This compares to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter’s revenue.

Wall Street expected to report revenue of $14.75 billion for the quarter ended June 27 — up 77% from the same period last year, according to consensus estimates from Thomson Reuters. Earnings per share are expected to come in at $3.11 compared with $1.35 in the same period last year.Apple sold 9.4 million iPods in the period, 8.4 million iPhones, 3.3 million iPads, and 3.5 million Macs

The average consensus among analysts calls for 8.17 million iPhone units sold for the recently ended period, according to a MarketWatch survey of brokerage forecasts. iPad sales are expected to reach about 3.3 million units for the quarter. Sales of Mac computers are expected to reach 3.2 million units with iPod sales expected to reach 9.3 million units.

Douglas A. McIntyre