Apple just announced is fiscal Q2 2012 earnings, and the company is set to hold an earnings call with investors to announce its fiscal Q2 2012 financial results at 2 p.m. Pacific / 5 p.m. Eastern time this evening. You can listen to the call on Apple’s Investor Relations page (QuickTime required) or you can follow along below.
4:00 – AAPL just closed at 560.28 ahead of today’s earnings announcement.
4:52 – Some chill music playing. Tim Cook and co. should be getting started shortly.
4:55 – AAPL is up 602.64 +42.36 in after hours trading. Wall Street likes the announcement.
5:01 – Okay, the Q2 2012 earnings call has begun. “Thanks for joining us! CEO Tim Cook and CFO Peter Oppenheimer will be hosting the call.”
- Peter Oppenheimer is on the line .. “We’re proud of our new numbers. Revenue was $39.2 billion which is a new record for the March quarter. Second highest quarterly revenue, behind last quarter. Strong iPhone and iPad sales contributed to the solid quarter.”
- New March quarter record of 4 million Macs sold, which is a 7.7% growth from the y/o/y quarter
- “Mountain Lion to be available in late summer this year”
- 7.7 million iPod sales, iPod touch half of all sold
- iTunes Store record revenue of $1.9 billion, 35% y/o/y increase. 28 million songs, 45,000 movies
- 35.1 million iPhones, tremendous iPhone sales in China aided by the launch of iPhone 4s launch in January
- iPhone in 100 countries
- 8.6 million iPhones in channel inventory
- $22.7 billion revenue from iPhone and accessories
- 11.8 million iPads “We’re very proud..customers are loving it.”
-iPad available in 40 countries
-2 million iPads in channel inventory
-iPad continues to open new doors for new customers.. “momentum in schools, business, and government”
- 365 million iOS device sales
- App Store has 600k apps, 200k iPad apps
- 125 million iCloud members
- $4.4 billion Apple retail store revenue. 826,000 Macs sold in stores. Half were to new Mac owners.
-Only two new stores during the March quarter
-363 stores Apple stores
-$12.2 million average revenue per-store
-85 million Apple store vistors, average 18,000 vistors per-store, per-week
-$110.2 billion in cash for Apple. Damn.
- Apple plans to provide more dividend information on its next earnings Q3 call.
- $34 billion in revenue expected next quarter, 41.5% gross margin
- “New iPad is off tremendous start”
Q and A time
- “We were able to fulfill orders in March, rather than June like last year…We feel very very good about our business.”
- “The new iPad is on fire. We are selling them as fast as we can make them.”
- “24th straight quarter we’ve out grown the market.”
Q: “Could you talk more broadly about what you’re learning about lower prices on iOS devices?”
Tim: “We’re thrilled with the result of the iPad price drop, but it’s too early to make a clear conclusion.” Price sensitive customer. Education demand.
- “iPad is a profound product. The appeal of it is universal.”
- “Continuing to innovate the MacBook Air. Appeals to someone with someone with different requirements. Some people prefer both (iPad and MacBook Air).”
Q: “How are customers using iCloud, iTunes Match?”
- Customers are using all features, growing.
Q: “What’s going on in China? Anything you can tell us to explain the growth?”
- Record revenue in greater China, up over 3 times y/o/y. Pent up demand for iPhone 4S primarily. Mac sales in China were over 60% y/o/y.
Q: iTunes content?
“We’re thrilled with our catalog — largest catalog available..28 million songs.. $1.9 billion of revenue in the March quarter. We’re thrilled with our iTunes growth.”
- “We had the mother of all Januarys.”
In regards to other companies:
On business growth:
- “94 percent of the Fortune 500, and 75 percent of global 500, are testing or deploying iPad.”
And that’s it! Thanks for joining us.