The company posted net income of $3.38 billion, or $3.67 a share, in the fiscal first quarter ended December 26, up from $2.26 billion, or $2.50 cents a share, in the year-ago period, when Apple was using the old accounting standard.
Revenue rose to $15.68 billion from $11.9 billion.
Apple forecast earnings for the current quarter of $11 billion to $11.4 billion on earnings of $2.06 to $2.18 a share.
Apple threw us a curveball: The company reported results in GAAP format, reflecting an accounting change that means they no longer have to distribute iPhone revenue and earnings over 24 months - Silicon Alley Insider bit.ly
DANIEL ERNST, ANALYST, HUDSON SQUARE RESEARCH
"It was a very good quarter, as expected. It's a continued sign that Apple has great products that consumers want despite this recession. They did 8.7 (million) iPhones -- underneath some of the more bullish expectations but they did 4.4 (million) the year before ... and they hadn't added a lot of new distribution in the quarter. This was just more of a same-store sales kind of figure showing the demand."
"Mac sales were phenomenal as well ... Macs continue to gain share and what's interesting is that it only has 3.6 percent share globally so there's a lot of headroom."
Analyst Commentary LINK
Edited by Rogerdodger, 25 January 2010 - 05:42 PM.