“This morning’s rally centered on Microsoft, which beat the street and issued an earnings forecast topping estimates after yesterday’s closing bell. Shares of Microsoft jumped 3% in early trading this morning but ended the day about 1% down,” Matt Egan reports for Fox Business Network. “The company said its revenue jumped 30% from a year ago.”
“The importance of Microsoft’s positive earnings announcement comes from the lackluster performance and warnings from other tech giants in recent weeks, including chipmaker Intel and Apple,” Egan reports.
Full article, Think Before You Click™, here.
MacDailyNews Take: Sometimes you just have to laugh at the sheer stupidity and utter incompetence on display. These people get jobs, folks. Other people – presumably even stupider and more incompetent people – actually pay them. It never fails to amaze. What’s next, Matt, are you going to report that the sky is pink, water isn’t wet, and that you’ve just been accepted into Mensa?
Apple on Tuesday announced record financial results for its fiscal 2008 first quarter ended December 29, 2007. The Company posted record revenue of $9.6 billion and record net quarterly profit of $1.58 billion, or $1.76 per diluted share. These results compared to revenue of $7.1 billion and net quarterly profit of $1 billion, or $1.14 per diluted share, in the year-ago quarter.
Apple easily beat the street’s estimates of $9.47 billion in revenue and $1.62 per share.
Apple shipped a record 2,319,000 Macintosh computers, representing 44% unit growth and 47% revenue growth over the year-ago quarter. The Company sold a record 22,121,000 iPods during the quarter, representing five percent unit growth and 17% revenue growth over the year-ago quarter. Quarterly iPhone sales were a record 2,315,000.
“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, in the earnings announcement.
“Apple’s revenue grew 35% 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, in the press release. “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 $0.94.”
Apple’s Q2 08 guidance is 29.3% over the company’s Q2 07 posted revenue of $5.26 billion.
On which planet is 35% YOY revenue growth less than 30%?
Contact Info:
What do you expect from a republican channel anyways? Someone with a brain?
This reminds me of my favorite line from the Refreshments’ song Banditos:
“The world is full of stupid people.”
As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.
Trash ’em all you want, MDN, but it is what it is.
Don’t give them hits
Dave Smith
What do you think of CNBC’s Erin Burnett?
MW:head, as in “use it”.
“going to 130 no matter what results they posted”
Deception is Everything. Yes, what is, is; unless you’re Slick Willie, then it depends what is is.
@ Perception:
So, if ‘developing great products’ creates a perception of a company that is second tier, what kind of mission statement produces a perception as a first tier producer? “Stealing ideas from others and making crappy products?” perhaps?
Apple needs to kick Owl Gore off of their board.
Hmmmm
“As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.”
Yes, lets build money losing computers just like everyone else and live off the pennies difference. !!!
Apple is building. PERIOD. Take a good look at the articles out there. They have gone from 1 good in 10 to about 5-7 good in 10. The “nay” sayers are sounding more and more pathetic. And if you read the comments by readers of those articles, they are more and more PRO apple.
The tide is coming in and rusting hulks like Microsoft that are sitting on sandbars will not rise with the tide.
Hey, I am getting to much into these prattles, so I plan to take a well deserved rest and will plan on chatting with you guys in 4-6 months. Until then, remember that reality is what is and not what Microsoft and others would have you believe.
Later,
EN.
MDN = develop as in I have to take some time to develop a life.
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Hmmmm
“As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.”
Yes, lets build money losing computers just like everyone else and live off the pennies difference. !!!
Apple is building. PERIOD. Take a good look at the articles out there. They have gone from 1 good in 10 to about 5-7 good in 10. The “nay” sayers are sounding more and more pathetic. And if you read the comments by readers of those articles, they are more and more PRO apple.
The tide is coming in and rusting hulks like Microsoft that are sitting on sandbars will not rise with the tide.
Hey, I am getting to much into these prattles, so I plan to take a well deserved rest and will plan on chatting with you guys in 4-6 months. Until then, remember that reality is what is and not what Microsoft and others would have you believe.
Later,
EN.
MDN = develop as in I have to take some time to develop a life.
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Hmmmm
“As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.”
Yes, lets build money losing computers just like everyone else and live off the pennies difference. !!!
Apple is building. PERIOD. Take a good look at the articles out there. They have gone from 1 good in 10 to about 5-7 good in 10. The “nay” sayers are sounding more and more pathetic. And if you read the comments by readers of those articles, they are more and more PRO apple.
The tide is coming in and rusting hulks like Microsoft that are sitting on sandbars will not rise with the tide.
Hey, I am getting to much into these prattles, so I plan to take a well deserved rest and will plan on chatting with you guys in 4-6 months. Until then, remember that reality is what is and not what Microsoft and others would have you believe.
Later,
EN.
MDN = develop as in I have to take some time to develop a life.
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Hmmmm
“As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.”
Yes, lets build money losing computers just like everyone else and live off the pennies difference. !!!
Apple is building. PERIOD. Take a good look at the articles out there. They have gone from 1 good in 10 to about 5-7 good in 10. The “nay” sayers are sounding more and more pathetic. And if you read the comments by readers of those articles, they are more and more PRO apple.
The tide is coming in and rusting hulks like Microsoft that are sitting on sandbars will not rise with the tide.
Hey, I am getting to much into these prattles, so I plan to take a well deserved rest and will plan on chatting with you guys in 4-6 months. Until then, remember that reality is what is and not what Microsoft and others would have you believe.
Later,
EN.
MDN = develop as in I have to take some time to develop a life.
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Hmmmm
“As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.”
Yes, lets build money losing computers just like everyone else and live off the pennies difference. !!!
Apple is building. PERIOD. Take a good look at the articles out there. They have gone from 1 good in 10 to about 5-7 good in 10. The “nay” sayers are sounding more and more pathetic. And if you read the comments by readers of those articles, they are more and more PRO apple.
The tide is coming in and rusting hulks like Microsoft that are sitting on sandbars will not rise with the tide.
Hey, I am getting to much into these prattles, so I plan to take a well deserved rest and will plan on chatting with you guys in 4-6 months. Until then, remember that reality is what is and not what Microsoft and others would have you believe.
Later,
EN.
MDN = develop as in I have to take some time to develop a life.
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Egan just simply doesn’t know what he’s writing about. SUE ME EGAN! That first sentence was another way of saying ‘you don’t know your ass from a hole in the ground.’
Apple’s stock went down because during thier live press conference with analyists, they projected that NEXT QUARTER’S results were expected to be poorer. Not that there was a damn thing wrong with the latest quarter, which—as MDN correctly points out—set records.
Geezus, is this guy an idiot? Apple had a stellar earnings report.
“As long as Steve continues to insist on Apple’s image being that of ‘developing great products’ – code for gadgets, toys and hobbies – then the main stream tech world and business media is going to continue to dismiss Apple as a second tier company in the serious business world.”
You keep posting the same kind of dumbass post on here under different names. Mr Toys and gadgets. Guess what you farking moron, those ‘toys’ and ‘gadgets’ earn REAL MONEY, not Monopoly money.
Keep posting, dont know what kind of point you think you’re making by accusing Apple of not making ‘real’ products, but all it does is prove what a total idiot you are when they announce record earnings every single quarter and record Mac sales every single quarter.
account
Oh, and regarding “Perception is Everything”, ignore the dork. He’s just being intentionally provocative to see if he can make any waves whatsoever in the space-time continuum. If everyone will just ignore him, he will go back to doing what he likely did as a kid: spraying graffiti on things so he doesn’t feel as insignificant as he really is.
WARNINGS!!!!
Apple DID warn that the following quarters would be NOT AS GOOD.
And based on that, their “value” fell, KER-SPLAT! (buy some now – it’s a great bargain!)
Warnings = APPLE.
This guy was dead solid accurate. MDN, dead solid wrong.
F U Dave!
If Egan had been correct, he would have written “…lackluster performance OR warnings from other tech giants in recent weeks.” Instead, he wrote “…lackluster performance AND warnings from other tech giants in recent weeks.” Either Egan doesn’t know how to write clearly (a fatal failure for a financial writer) or he was being purposely misleading (a fatal failure for a financial writer).
“Geezus, is this guy an idiot? Apple had a stellar earnings report.”
Yes, and they also posted a low guidance, below expectations. Guidance is was Wall Street ALWAYS looks to.
Steve Jobs knows this, Peter Oppenheimer knows this, Analysts know this and Investors know this..
So whatever their reasons for giving a low guidance, it was an even lower guidance than usual. This is the reason for the sell-off folks. It’s nothing new and it’s nothing personal against Apple. It’s just how Wall Street works.
@macromancer
AAPL 25 days ago: 200
AAPL today: 130
I rest my case.
You miss my point… I don’t want Apple to build computers that are better than the worst, I want them to build machines that are FAR SUPERIOR to the competition – something they can do and are not doing because of the distraction of tinkering with toys.
And, don’t tell me they already build computers that are far superior – they don’t. The could, but they don’t.
If they did, they would not have to worry about whether the competition in the phones and tunes players world were going to continue to sell when dozens and dozens of other brands are as good and much less costly.
Repeat: I rest my case.
Maybe he used a Vista calculator which shows that a 30% increase is a larger percentage increase than a 35% increase.
@Greg L
You, too, miss the point. Business writers will NEVER recognize Apple in the first tier of the serious computer maker world as long as the image Steve is determined to project is one of a stubborn old hippie (very rich one, nonetheless) who is obsessed with toys.