Wall St. analysts would be well-advised to take their Apple earnings estimates and just tack on a little bit extra. Without fail, Apple over the past few years has demolished Wall St. expectations and this quarter was just as impressive though Apple did fail for the first time in a long time to meet Wall Street’s consensus this quarter. Still, profits year over year are up an astounding 53.6%.
A short while ago, Apple released its financial results for the September quarter (ending on Sept. 24) and posted revenue of $28.27 billion and a quarterly profit of $6.62 billion, up from revenue of $20.34 billion and a profit of $4.31 billion in the same quarter a year-ago. All told, Apple this quarter raked in earnings at $7.05/share, up from $4.64 per diluted share during the same quarter last year.
Product wise, Apple sold 17.07 million iPhones, 11.12 million iPads, 4.89 million Macs and 6.2 million iPads. Year-over-year iPhone growth came in at 21% while iPad and Mac growth checked in at 166% and 26% respectively.
“We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,” Tim Cook said in Apple’s press release. “Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.”
Apple’s earnings this past quarter represent the company’s highest September quarter – both in terms of revenue and overall earnings – in company history. Notably, international sales accounted for 63% of Apple’s revenue.
For Apple’s entire 2011 fiscal year, they posted revenue of $108.25 billion and a profit of $25.92 billion for EPS of $27.68. During the previous fiscal year, Apple posted revenue of $65.23 billion, profits of $14.01 billion and EPS of $15.15. Note that this is the first time Apple’s yearly revenue has ever topped $100 billion.
Comically, and highlighting the stupidity of investors and Wall Street morons, Apple’s stock is down over $26 points in after-hours trading. Sell on the news, I suppose.