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Apple trounces Wall Street estimates (CNNMoney)

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eppur_se_muova Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 04:44 PM
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Apple trounces Wall Street estimates (CNNMoney)
By Ben Rooney, CNNMoney.com staff writer
Last Updated: January 21, 2009: 5:22 PM ET

NEW YORK (CNNMoney.com) -- Shares of Apple Inc. jumped 9% in after-hours trading Wednesday after the computer and electronics maker said its fiscal first-quarter earnings soundly beat analysts' estimates despite a difficult environment for tech sales.

The Cupertino, Calif.-based company reported net income rose almost 2% to $1.61 billion, or $1.78 per share, in the three months ended Dec. 27, compared with $1.58 billion, or $1.76 per share, a year ago.

Revenue rose 6% to $10.17 billion from $9.61 billion.

Analysts were expecting earnings per share of $1.39 and sales of $9.74 billion, according to consensus estimates gathered by Thomas Reuters.

"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history," Apple's chief executive Steve Jobs said in a statement.
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more: http://money.cnn.com/2009/01/21/technology/Apple_earns/...
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 04:45 PM
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1. holy crap the stock went up almost 9%, yes!
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