No comment really needed here. Only a Wall Street analyst could be shocked by the fact that Apple beat estimates and guided lower. I don’t mean to downplay the enormous quarter by Apple (it’s an outrageously good quarter), but how in the world is anyone still fooled by this guidance game they play? I know, I know…this is every analyst’s pet rock, but when your estimate is a full 20% off the mark you have to seriously consider another line of employment. You can’t be this wrong every single quarter and claim to be “analyzing” anything. The value added here by the analyst community is worse than negative….Via Briefing.com:
4:40PM Apple beats by $1.03, beats on revs; guides Q3 EPS below consensus, revs below consensus (AAPL) 342.41 +4.55 : Reports Q2 (Mar) earnings of $6.40 per share, $1.03 better than the Thomson Reuters consensus of $5.37; revenues rose 82.7% year/year to $24.67 bln vs the $23.38 bln consensus. Co issues downside guidance for Q3, sees EPS of ~$5.03 vs. $5.25 Thomson Reuters consensus; sees Q3 revs of ~$23 bln vs. $23.83 bln Thomson Reuters consensus. Co reports Q2 gross margins of 41.4% vs Street est of 39.0% and 38.5% guidance. Co reports 3.76 mln Macs sold in Q2 vs Street est of ~3.6 mln, 18.65 mln iPhones sold vs Street est of ~16.5 mln, and 4.69 iPads sold vs Street est of ~4.2 mln. “With quarterly revenue growth of 83 percent and profit growth of 95 percent, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO. “We will continue to innovate on all fronts throughout the remainder of the year.”
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