More on Apple’s stellar earnings

Thu, Oct 23, 2008

Finance, News

Bullish Cross has the scoop here.

In its recently reported fiscal fourth quarter, Apple’s adjusted net income grew approximately 124.6% from $1.085 billion in Q4 2007 to $2.437 billion in Q4 2008—an extraordinary number when fully accounting for iPhone sales in both periods. Just as impressive is Apple’s 75.1% grow rate in sales. Apple’s adjusted revenue grew from $6.673 billion in Q4 2007 to a whopping $11.682 billion in Q4 of 2008. Earnings per share grew 123.0% from $1.21 in Q4 2007 to $2.69 in Q4 2008. This begs the question? Where the hell are the analysts and why aren’t they quick to point this out? Only on Wall Street can a company grow earnings 124.6%, sustain bouts of analyst downgrades and see its shares decline 55% (while boasting a 14 forward P/E on a GAAP-basis).”


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