Apple Thoughts: Apple Beats Q2 Projections

"Apple said Wednesday that second-quarter profits rose more than 15 percent to $1.21 billion, or $1.33 per diluted share, on record non-holiday quarter sales of $8.16 billion for the three-month period ended March 28, 2009. These results compare to revenue of $7.51 billion and net quarterly profit of $1.05 billion, or $1.16 per diluted share, in the year-ago quarter. Gross margin was 36.4 percent, up from 32.9 percent in the year-ago quarter. International sales accounted for 46 percent of the quarter's revenue."

Apple didn't disappoint, beating the projections we posted yesterday, although they did have a 3% decline in the sales of computers with sales of 2.22 million units when compared to last years numbers. Both the iPod and iPhone categories increased by 3% and 123% respectively, with sales of the iPods just over 11 million units and iPhones at just under 3.8 million units. Pretty good quarter overall. They also had some interesting things to say during the conference call. We'll see how the next one is, think there will be a drop based on the anticipation of what may be announced at WWDC?