iPad 2 sales to balloon 200% this quarter according to analyst

By on April 25, 2011 at 11:08 AM.

iPad 2 sales to balloon 200% this quarter according to analyst

Asymco’s Horace Dediu has a long history of pegging Apple earnings, and on Monday morning the analyst issued his revenue and EPS estimates for Apple’s third fiscal quarter of 2011. Dediu expects Apple to outpace its guidance, as usual, which the company set at 47% revenue growth and 43% EPS growth last week. Based on significant year-over-year growth projected in every key segment other than its iPod business, Dediu expects revenue growth of 65% to $25.8 billion and EPS growth of 72% to $6.02. Regarding product lines, the analyst sees Apple’s third-quarter breaking down as follows:

  • iPhone units: 14.7 million (75%)
  • Macs: 4.3 million (25%)
  • iPads: 9.8 million (200%)
  • iPods: 10.1 million (-15%)
  • Music (incl. app) rev. growth: 25%
  • Peripherals rev. growth: 25%
  • Software rev. growth: 25%

Apple sold just 4.69 million iPads last quarter, falling short of analyst estimates ranging from 6 to 8 million. It is widely believed that the low sales were due to supply constraints, and Dediu believes that Apple will iron out these issues. The iPad 2 will also launch in several new countries this quarter, and coupled with supply that might finally come closer to meeting demand, Dediu sees third-quarter iPad sales ballooning 200% year-over-year to 9.8 million units. More →

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Qualcomm announces Q2 earnings; record revenues of $3.9B

By on April 21, 2011 at 12:41 AM.

Qualcomm announces Q2 earnings; record revenues of $3.9B

Qualcomm on Wednesday reported its earnings for the fiscal second quarter or 2011. Strong demand for smartphones and other connected devices that utilize the company’s chips drove record revenues of $3.88 billion, up 46% over the second quarter in fiscal 2010. Operating income and net profits were up year-over-year as well; operating income was up 38% to $1.07 billion and profits were up 29% to $999 million. Compared to the first quarter of fiscal 2011 however, operating income was down 3% and profits were down 15%. Qualcomm expects continued success moving forward, and the company raised its fiscal 2011 guidance as a result. “We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow,” said Qualcomm CEO Paul E. Jacobsin a statement. “In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide.” Hit the break for the full release. More →

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Apple reports Q2 earnings; iPhone beats the Street, iPad misses big, profit up 95%

By on April 20, 2011 at 4:39 PM.

Apple reports Q2 earnings; iPhone beats the Street, iPad misses big, profit up 95%

Apple on Wednesday reported earnings for the second quarter of fiscal 2011. Reports from Tuesday suggesting Apple might miss iPad sales estimates were accurate as Apple reported second-quarter sales of only 4.69 units compared to 7.33 million iPads last quarter. Analyst estimates fell between 6 and 8 million iPads for the March quarter. Apple’s iPhone sold 18.65 million units globally in the second quarter compared to 8.75 million units in the same quarter last year and 16.24 million units in the first quarter of fiscal 2011. iPod sales came in at 9.02 million units, down from 10.89 million in the second fiscal quarter of 2010 and 19.45 million last quarter. Wall Street was expecting 16 million iPhones and 9.9 million iPods in the quarter. Mac sales narrowly beat the Street’s estimates of 3.6 million units, totaling 3.67 million units in the March quarter, up from 2.94 million last year and down from 4.13 million from last quarter. Revenue for the second quarter came in at $24.67 billion and Apple recorded $5.99 billion in profit, up 95% from $3.07 billion in the same quarter last year. Apple noted in its earnings call that the earthquakes in Japan will not affect Apple’s supply chain or its products in the third quarter. The company’s full press release can be seen after the break. More →

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Apple's Q2 iPad 2 sales may fall short of estimates

By on April 19, 2011 at 3:29 PM.

Apple's Q2 iPad 2 sales may fall short of estimates

Analyst Horace Dediu on Tuesday uncovered figures Apple provided in a recent legal complaint against Samsung that may give us a preview of iOS device performance in the second quarter of Apple’s fiscal 2011. Within Apple’s filing, the company states, “As of March 2011, more than 108 million iPhones had been sold worldwide.” It goes on to say, “By March 2011, Apple had sold over 60 million [iPod touch] units,” and, “By March 2011, Apple sold over 19 million iPads.” Dediu uses these figures along with knowledge of Apple’s previously reported sales numbers to estimate that the company may have sold a minimum of 18.1 million iPhones, 4.5 million iPod touch units and 4.2 million iPads in its fiscal second quarter. While these numbers are anything but scientific, the iPhone and iPod touch figures are in line with analyst estimates. Apple’s iPad numbers, however, are extremely low compared to analyst estimates for the quarter, which range from 6 to 8 million iPads. Dediu notes that despite the potential miss on iPad sales, Apple is still poised to beat The Street’s EPS consensus. More →

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