Apple's Financials Soar despite Economy--Revenue nearly $8.2B

Apple set a record for non-holiday quarterly revenue and earnings during the second quarter (Q2) of Apple's 2009 fiscal year that ended March 31st. Revenues were nearly $8.2 billion and earnings were $1.33 per diluted share. Gross margins increased to 36.4% and cash on hand increased to $28.9B.

In posting this super performance, especially in a down economy, Apple beat the analysts consensus estimated earnings per share by more than a whopping 22%.

Mac sales of over 2.2 million were down 3% from Q2 of 2008 but iPod sales of over 11 million and iPhone sales of 3.8 million were up 3% and and a huge 123% respectively. Among the Macs, desktops (iMacs, Mac Pros and Mac minis) were down 4% and portables (MacBooks, MacBook Airs and MacBook Pros) were down 2% as compared with Q2 of 2008. Clearly, Apple record Q2 in 2009 was due to tremendous iPhone sales.

Sales in the three big regions were up in 2009 Q2; Americas by 8%, Europe by 18% and Japan by 18% over 2008 Q2. Retail store sales were nearly flat with 2008, rising a mere 1%, but still about half of the sales were to people new to the Mac.

Apple announced that it expects to have a lower Q3 that ends June 30th with revenue of $7.7B to $7.9B and earnings per share of $0.95 to $1.00. Apple usually performs better than its forecasts. [Bill Fox]