Apple Inc. (NASDAQ: AAPL) held up better than many would have expected given the sad news that Steve Jobs is taking another medical leave of absence. 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 7.33 million and iPhone sales were 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 was 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 Mac, iPhone and iPad sales a record; 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 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.
JON C. OGG
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