The results compare to revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share, in the year-ago quarter. Gross margin was 34.7 percent, equal to the year-ago quarter. International sales accounted for 46 percent of the quarter's revenue.
"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history — surpassing $10 billion in quarterly revenue for the first time ever," said Apple chief executive Steve Jobs.
Apple sold 2,524,000 Macintosh computers during the quarter, representing nine percent unit growth over the year-ago quarter. The company also sold a record 22,727,000 iPods during the quarter, representing three percent unit growth over the year-ago quarter. Quarterly iPhone units sold were 4,363,000, representing 88 percent unit growth over the year-ago quarter.
In accordance with the subscription accounting treatment required by GAAP, the Company recognizes revenue and cost of goods sold for iPhone and Apple TV over their economic lives. Adjusting GAAP sales and product costs to eliminate the impact of subscription accounting, the corresponding non-GAAP measures* for the quarter are $11.8 billion of "Adjusted Sales" and $2.3 billion of "Adjusted Net Income."
"Our outstanding results generated over $3.6 billion in cash during the quarter," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the second fiscal quarter of 2009, we expect revenue in the range of about $7.6 billion to $8 billion and we expect diluted earnings per share in the range of about $.90 to $1.00."
Apple will provide live streaming of its Q1 2009 financial results conference call utilizing QuickTime. The live webcast will begin at 2:00 p.m. PST today. AppleInsider will provide full coverage.
Additional coverage of Apple's Q109 release
38 Comments
A growth slowdown is clearly evident in these numbers. The lower guidance for the current quarter relative to the street's estimates further demonstrates that Apple has to respond to the economic backdrop.
Congrats to Apple, one of the greatest American companies left.
A growth slowdown is clearly evident in these numbers. The lower guidance for the current quarter relative to the street's estimates further demonstrates that Apple has to respond to the economic backdrop.
The 2nd quarter is always Apple's hardest quarter as its after the holiday season and before the school buying season. Its a tough sell even during good times.
Apple is always very conservative with its outlook for the next quarter. You will see the stock go down because of it. Happens every time. Seems like investors would learn this!
These are pretty good numbers. I was hoping a bit more for for iPhone sales. Perhaps if Apple didn't have such as asinine system for getting one over the holidays it would have been better, who knows! The iPod sales are great! So much for the iPhone killing iPod sales.
We'll see as time goes on if Apple can continue to keep these types of numbers up in line with the quarter of a year ago. This will tell how Apple is doing during this downturn. IMO, we need to wait until we get further into the year before we can truly say Apple is immune to this downturn.
Great numbers!
No one escapes the economic slowdown.
Flat year-over-year is amazing given all the doom and gloom. Q2 Estimates are for $1.13 down from 1.16, so Apple's guidance is generally on-par; it would be odd to see analysts lower estimates.
This will really put a lot of pressure on some of their "peers" and competitors to deliver this quarter.
One thing can be said though-- Apple is running an efficient ship. The margins will likely have to drop a little in the near term to move more product, but even 5% drop gives them a 30% margin...