What recession? Apple sees best non-holiday quarter ever

Not even a crumbling economy and the absence of co-founder and chief executive Steve Jobs can stop Apple. At least according to its second quarter earnings report, covering the period ending March 28, which beat analysts’ expectations — and then some.

Those analysts predicted that the Cupertino, Calif. company would report earnings of $1.08 per diluted share on $7.9 billion in revenue, according to a Thomson Reuters survey. Instead, Apple says it earned $1.33 per share on $8.16 billion, with a profit of $1.21 billion. That may fall short of the company’s $10.17 billion revenue in Q1, when sales were boosted by the holidays, but it’s up from the $7.51 billion the company brought in during the same period last year. In fact, these numbers even set some records for Apple, namely the best earnings and revenue for any non-holiday quarter.

To compare to another superstar tech company, in the most recent quarter Google actually dropped 6 percent year-over-year. Also, Generally Accepted Accounting Principles (GAAP) can make Apple’s performance look weaker, because they spread out the costs and revenue for subscription products (the iPhone and Apple TV) over 24 months. In non-GAAP numbers, Apple earned $9.06 billion in revenue and $1.66 billion in profits.

Some other numbers:

  • Apple sold 2.22 million Macintosh computers, down 3 percent from a year ago.
  • It sold 11.01 million iPods, up 3 percent.
  • It sold 3.79 million iPhones, up 23 percent.

Apple is also forecasting revenue between $7.7 and $7.9 billion for the next quarter, with earnings per share between $0.95 and $1.00.

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About the Author, Anthony Ha

Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.

  • Gene
    just testing this commenting engine
  • great reporting, Anthony! see you at UtR

    cheers,
    Graeme
  • While I have no idea what the stock will do, I do think that this is one of those cases where no game-changing news on part of Apple (in the call) is actually GREAT news, and I blogged my analysis in:

    ANALYSIS - Apple Quarterly Earnings Call: When No News is GREAT News
    (http://bit.ly/2DmNZ)

    Check it out if interested.

    Mark
  • I'm not really familiar with this matter,but it depends on how the market sells the products and if this product is in demand.