Live blog: Apple Q2 earnings call

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.

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4:00 – AAPL just closed at 560.28 ahead of today’s earnings announcement.

4:30 – Apple posts record Q2 2012 earnings: $39.2 billion in revenue and quarterly net profit of $11.6 billion

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:

– Tim cook just said, “I’d rather a settle patent lawsuit, but I don’t want Apple to be the developer for world, I want people to make their own stuff.” Woah.

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. 

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