Tuesday, January 27, 2015

Apple Crushes Expectations -- January 27, 2015; Revenues Of $75 Billion In Three Months -- Compare With Google ($66 Billion In A Full Year)

Crushes earnings.
Apple sold 74.4 million iPhones, up 46% compared to the year prior, its biggest ever quarter by 23.4 million units. Analysts were only expecting 65 million units sold.
The strength of the iPhone business led to Apple delivering $74.6 billion in revenue, up 30% year-over-year, soundly beating expectations of $67.5 billion in revenue. 
Apple's net income for the quarter was $18 billion, which is most ever earned by a company in history.
The stock is up 5% after market. 
Apple said it collected $74.6 billion in sales, up 30% from last year, and net income of $18 billion, up 37%, in its fiscal first quarter -- its biggest of the year. Earnings per share hit $3.06 versus expectations of $2.60.

More Apple

Here, via Bloomberg, is what analysts are expecting :
  • Revenue:  $67.5 billion, which would be up 17%  year over year. Actual: $74.6 billion, up 30% over last year.
  • Earnings Per Share:  $2.60, which would be up 25% year over year. Actual: $3.06.
  • iPhone units:  65 million, which would be up 27% year over year  (whisper number is closer to 69 million). Actual: 74.5 million.
  • iPhone average selling price (ASP): $668 (it was $602.92 for the previous quarter).
  • iPad units:  22 million, down 14% year over year. Actual: 21.4 million.
  • iPad ASP: $436
  • Mac units:  5.5 million units, up 15% year over year. Actual: 5.5 million.
  • iPod units: 3.5 million.
  • Gross Margin:  38.5%. Actual: 39.9%
  • March quarter revenue guidance:  $53.70 billion. Actual: $52 - $55 billion.
To put these numbers in context, analysts estimate Google did $66.4 billion in revenue for all of 2014. Apple is going to generate more revenue in a three-month period if it meets analyst expectations.

Hillary MIA

Link here.  This is quite interesting. The writer failed to mention the most likely reason that Hillary has not been seen for quite some time: some minor plastic surgery. Some work on her crow's feet; some neck tightening; some eyelid lifts. She will look different the next time we see here; it won't be major but it will be noticeable.

Warren Beats IRS (Again)

Link here.

NetJets Inc, the private jet-sharing company owned by Warren Buffett's Berkshire Hathaway Inc, has defeated a U.S. Internal Revenue Service lawsuit attempting to recoup more than $500 million of unpaid taxes, penalties and interest.
U.S. District Judge Edmund Sargus in Columbus, Ohio, said on Monday that the IRS was bound by guidance it gave a NetJets predecessor in 1992 over when to collect federal transportation excise taxes, and could not impose more taxes retroactively.
The judge's 37-page decision was not a complete victory for NetJets. Sargus rejected a claim by the company that it deserved a $219.5 million refund plus interest on taxes already paid because its services were not "taxable transportation."
Good for him.

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