Apple Q3 2008 earnings: revenue up 38%; Mac shipments up 41% (updated)

Apple Q3 2008 earnings: revenue up 38%; Mac shipments up 41% (updated)

Summary: Apple announced their fiscal third quarter 2008 financial results today in a conference call with analysts. A press release and a re-broadcast of the audio webcast is available on Apple's investor relations Web site and you can subscribe to the Apple Quarterly Earnings Call podcast in iTunes.

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TOPICS: Apple, Hardware, Mobility
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AppleApple Q3 2008 earnings: revenue up 38%; Mac shipments up 41%Apple announced their fiscal third quarter 2008 financial results today in a conference call with analysts. A press release and a re-broadcast of the audio webcast is available on Apple's investor relations Web site and you can subscribe to the Apple Quarterly Earnings Call podcast in iTunes.

Apple announced that the company's third quarter profit climbed 31 percent to US$1.07 billion on strong sales of Macs and iPods. Total sales rose 38 percent to US$7.46 billion. Apple shipped nearly 2.5 million Macs during the quarter, up 41 percent from a year earlier, while iPod shipments grew 12 percent to over 11 million.

As of this writing AAPL stock is down over 10 percent in after-hours trading due to Apple's conservative guidance for the fiscal fourth quarter.

Apple forecast fourth-quarter earnings of $1.00 per share and revenue of $7.8 billion, compared with average Wall Street targets of $1.25 per share -- out of a range of $1.13 to $1.41 -- on $8.3 billion in revenue, according to Reuters Estimates.

AAPL stock down 10 percent in after-hours trading

Topics: Apple, Hardware, Mobility

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7 comments
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  • Not surprising

    This is a matter of adjustment after the value is inflated by speculation and the stock is so obviously over-valued. With the maturation of the mp3 market, there really isn't much growth there. As for the phone market, it's as cutthroat as cutthroat gets, the chances are fairly high that something else cooler than the iPhone will come to the market. Well, the PC market, just how many Windows people will switch, judging from the message boards around here, they'll dry up pretty soon. I think I know more people who are like me who are just too cheap for much more growth for the iMac. I know I for one don't own any Apple stocks, don't think I will either.
    nothingness
    • Apple might as well give up then;-) (nt)

      nt
      Richard Flude
    • Dumb and Dumber

      So now the number of posting on board is indication of company ability to succeed. So let me think if this is true, then there 41% inscrease in sales cannot be true, there was no increase in blog post. . Amaxing how people in denial will use anything to try to justify their position ("well me and my friends dont buy Apple so there is the evidence". I have 5 Apple at home and me and my friend are all switching to Apple! . Neither argument is evidence, more like delusion !).
      Market shares, growth , earning and cash are solid indicator of a company success (all improved in the Apple case). Stock price also matter but over the long term horizon not quarterly changes. By any mean Apple is succeeding tremendously in the last 3 years and AMD is not (and I happened to like both companies). But my liking does not impair my judgment of a company prospect.

      PS: I agree that as an investment Apple shares are highly priced (and already factor in a significant on-going growth). And similarly AMD looks cheap. But don't confuse stock price and company success.
      beefygoatee
    • Should have done like me...:)

      I bought when it was at $12.00. No regrets here....:P As for
      your estimation. I think I've heard that MP3 market is
      saturated for a couple years now. Some people just refuse to
      believe the success of the iPhone and despite sales figures
      predict it's imminent failure daily. Now for the Mac. Well so
      far so good...heh heh heh.

      Pagan jim
      James Quinn
  • What hardware/software configurations are used at Apple?

    Has Apple switched to Vista yet?
    mlindl
    • Are you a moron? that is an honest question

      N/T
      Kaiwai
  • another example of: buy on the rumor, sell on the news

    Let stock run up in anticipation of good news, then sell at the high
    killerbunny