AAPL earnings call
Apple Inc. (AAPL)
F2Q08 Earnings Call
April 23, 2008 5:00 pm ET
[…]
Peter Oppenheimer
Thank you, Nancy and thank you for joining us. We are very pleased to report the highest March quarter revenue and earnings in Apple’s history. Revenue in the March quarter was $7.51 billion, an increase of more than $2.2 billion over the previous March quarter’s revenue of $5.26 billion. The tremendous growth in the quarter was driven by very strong demand for Macs, higher revenue from iPod and iTunes and the continued popularity of the iPhone.
Operating margin for the quarter was better than expected at 17.5%, primarily due to the higher-than-anticipated revenue and gross margin. Net income was $1.05 billion, which was up 36% over the prior March quarter’s results and translated to earnings per share of $1.16.
Before going through the details of the March quarter, I would like to give you a few data points indicating just how exceptionally well Apple performed. Revenue growth in the March quarter accelerated to 43% year over year, which is more than twice the 21% growth rate we achieved in the March quarter last year.
We saw healthy growth in all regions, with the U.S. sales growing 40% and international sales growing 47%. […]
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