Apple reported its earnings for the first quarter of its 2011 fiscal year last night, posting revenue of nearly $27 billion on record sales. But as is often the case, much of the juicy stuff came from the question and answer session following the call, where analysts try their best to delve into areas not covered by Apple’s report or its press release. Apple fans who weren’t privy to the topics covered in the Q&A session will be happy to know that market watcher Seeking Alpha has issued a full transcription of the call from start to finish. Analysts didn’t manage to get any state secrets out of the crew from Cupertino, of course, but there were a few peaks among the valleys. Speaking of valleys, Piper Jaffray analyst Gene Munster even managed to work in a subtle question about Apple CEO Steve Jobs’ leave, wondering just how prepared the company is right now for the long haul. Spoiler alert: COO Tim Cook’s response was that Apple is magic. Seriously. Hit the read link for the full transcript. More →
Fresh news out of Redmond. Software giant Microsoft has just posted earnings for Q1 of their fiscal year 2011, and the vitals all look good as Microsoft raked in $16.2 billion in revenues; a 25% increase from the same period in 2010. The company posted a net income of $5.41 billion which translated into $0.62 earnings per share; a 51% and 55% increase respectively when compared with Q1 of fiscal year 2010.
“This was an exceptional quarter, combining solid enterprise growth and continued strong consumer demand for Office 2010, Windows 7, and Xbox 360 consoles and games,” said Peter Klein, Microsoft’s CFO. “Our ability to grow revenue while continuing to control costs allowed us to deliver another quarter of year-over-year margin expansion.”
Although inconsequential on the balance sheet, this quarter did mark the first time in fifteen years that Cupertino, CA based Apple, Inc. outperformed Microsoft in revenue; Apple reported $20.34 billion in revenues during the same period. Regardless, Microsoft still — through its focus on highly profitable software (not hardware) — did generate more profit than the iPhone maker… and paid its shareholders a dividend. More →