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Apple sells more than 22 million iPods during Q1

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By Charles Starrett

Contributing Editor
Published: Tuesday, January 22, 2008
News Categories: Apple

Reporting its first quarter financial results today, Apple said it sold 22.1 million iPods during the holiday quarter — a 5 percent increase compared to the same quarter last year, and a new single-quarter record for iPod sales. It also sold 2.315 million iPhones in the quarter, bringing the total number of units sold up to around 3.7 million. The company posted revenue of $9.6 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share, compared with revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share in Q1 2007. These results best analysts’ predictions, which called for revenue of $9.5 billion and earnings of $1.5 billion, or $1.62 per share. Sales of Other Music Related Products + Services were up 27% over the year-ago quarter, and up 34% from Q4 2007, to $808 million total. That category includes iTunes Store sales, iPod services, and revenues from Apple and third-party iPod accessories.

“We’re thrilled to report our best quarter ever, with the highest revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO. “We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks.”

“Apple’s revenue grew 35 percent year-over-year to $9.6 billion, an increase of almost $2.5 billion over the previous December quarter’s record-breaking results,” said Peter Oppenheimer, Apple’s CFO. “Our strong results produced cash flow from operations of over $2.7 billion during the quarter, yielding an ending cash balance of over $18.4 billion. Looking ahead to the second quarter of fiscal 2008, we expect revenue of about $6.8 billion and earnings per diluted share of about $.94.”

« Notes from Q1 2008 Apple Conference Call

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Comments

1

Is it buy time or profit taking time for our friendly neighborhood stockholders?

God I wish I bought some shared when my brother did at $10/share….

Posted by studogvetmed in Loveland, CO on January 22, 2008 at 3:48 PM (PDT)

2

see CNN/Money article:

http://money.cnn.com/2008/01/23/markets/stockswatch_ny/index.htm

“Apple (APPL) posted record quarterly earnings late Tuesday but issued an outlook for revenue and earnings that both fell far short of forecasts, further raising fears that even hot companies won’t be immune to the downturn in the U.S. economy. The stock sank more than 12 percent in after-hours trading.”

Posted by dodo on January 23, 2008 at 6:16 AM (PDT)

3

Possible time to buy. Will be a down turn, but chance to return up….

That’s the stock market for you.

Posted by studogvetmed in Loveland, CO on January 23, 2008 at 11:14 AM (PDT)

4

Charles, you write: “These results best analysts’ predictions.”

I know you may be quoting someone else with poor grammar, but the word “best” is not a verb. Try “beat” next time. Otherwise people will start saying things like “Tiger Woods best his other opponents”.

Posted by Harbour Boy on January 23, 2008 at 2:52 PM (PDT)

5

Harbour Boy: Best actually is a verb, in addition to being an adjective, adverb, and noun. Look it up in the dictionary, and the verb comes up as “outwit or get the better of.”

In the future, if you have grammar or typographical comments to share with an editor, please send them directly to him or her. This sort of stuff really doesn’t need to be posted in our public comments. Thanks.

Posted by Jeremy Horwitz in East Amherst, NY, USA on January 23, 2008 at 3:12 PM (PDT)

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