Despite the announcement yesterday that CEO Steve Jobs will be out on medical leave for an undisclosed amount of time, Wall Street should have little to whine about Tuesday as Apple’s fiscal 2011 first quarter results have been announced, with another record-breaking quarter -- revenue is up 71 percent, while earnings have grown 78 percent.
Looks like it’s that time again -- Apple has announced that their 2011 first quarter financial results will be revealed in a conference call on Tuesday, January 18 at 2pm PST (5pm EST). Spoiler alert: Another boffo quarter is anticipated.
It’s almost hard to remember a time when Apple wasn’t making money hand over fist, especially with multiple quarters in a row boasted as their biggest yet. Cupertino didn’t disappoint Wall Street once again, racking up fiscal fourth quarter revenue of $20.34 billion and a net quarterly profit of $4.31 billion.
If it were up to J.P. Morgan, Apple would have a boffo end to 2010 -- and they’ve helped out by upping Cupertino’s revenue estimate for the fourth quarter to $18.71 billion as well as aiming for a $400 stock price by December of next year.
On the heels of Apple’s third-quarter results earlier this week, U.S. wireless partner AT&T has just announced their own second-quarter revenue -- and they’re wearing a smile, with lots of new iPhone activations and 10 times the number of iPhone 4s sold compared to last year’s iPhone 3GS.