Whether you like Apple or not, they are selling the crap out of their products! Apple is reporting revenues of $24.67 billion which is an 83% increase over the same period last year! Earnings per share were $6.40. This crushed Wall Streets expectations where where $5.36 and sales of $23.34 billion. That’s sick man. Maybe putting all your extra money in Gold wasn’t such a good idea after all? Well, it did go over $1,500 so just sit back and keep counting.
This little improvement while Steve Jobs is out on sick leave was actually the biggest non-holiday quarterly revenue and earnings in Apple history. Not bad Tim.
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” CEO Steve Jobs said in a statement. “We will continue to innovate on all fronts throughout the remainder of the year.”
These are pretty impressive numbers also given the fact that Apple had shortages of the iPad 2 which resulted in lower sales of 4.69 million units as apposed to the 6.2 million analysts were expecting. The shortages of course can be attributed to the Tsunami in Japan.