Thank the Gods, who control the technology sector, Apple (News - Alert) has reported a fiscal first-quarter profit of $1.61 billion, or $1.78 a share, on revenue of $10.17 billion. In other words this is excellent news showing people, especially stockholders that, even without Jobs, Apple can still do well.
"It was a great quarter and I think better than most people expected,'' said Yair Reiner, analyst at Oppenheimer.”I would say iPod sales were well ahead of the consensus. Mac sales were strong, iPhone (News - Alert) was a little bit softer than I hoped, but people were braced for that.''
According to CNBC, the December quarter is traditionally Apple's strongest, fueled by holiday sales. The company sold 2.52 million Mac computers in the quarter, up nine percent from last year, while iPod sales rose three percent to 22.7 million units. Analysts had expected sales of around 2.5 million Mac units and 18.5 million iPod units.
Sales of the iPhone, as expected, fell off considerably from the previous quarter and totaled 4.3 million units. Analysts had expected sales of roughly 5 million units.
This management team has always been conservative in the way it's guided. In that context, the first-quarter forecasts are quite encouraging,'' Reiner said.
During the same period a year ago, Apple earned $1.58 billion, or $1.76 a share, on revenue of $9.6 billion. The results beat the estimates of analysts surveyed by FactSet (News - Alert) Research, who forecast Apple to earn $1.29 a share on $10.16 billion in revenue for what is typically the company's busiest business period of the year.
Apple gave no new details, but Tim Cook, the chief operating officer who is handling day-to-day operations in Jobs' absence, attempted to assure analysts that Apple will continue to do well no matter who's in charge.
"The values of our company are extremely well entrenched," Cook said. "We believe that we're on the face of the Earth to make great products, and that's not changing."
Jessica Kostek is a channel editor for TMCnet, covering VoIP, CRM, call center and wireless technologies. To read more of Jessica’s articles, please visit her columnist page.
Edited by Jessica Kostek