GAAP
Apple's earnings: What the analysts say (Q1 2010)
January 22, 2010: 1:35 PM ETAct One of next week's two-part Apple extravaganza begins Monday after the markets close
Ignore for a moment, if you can, the clamor and hype surrounding next Wednesday's special event and the new tablet computer Steve Jobs is expected to reveal.
Wednesday is the second act of a two-part performance that Apple (AAPL) has stage managed for Wall Street next week.
Act One starts Monday after the markets close, when the company reveals its other not-so-well-kept secret: sales and earnings for quarter that ended Dec. 26 that nearly everybody expects will blow past Apple's typically conservative guidance.
According to Thomson Financial Network, the Street is looking for Apple to report earnings of $2.07 a share on revenue of $12.05 billion, based on generally accepted accounting principles (GAAP).
More significant, however, are the so-called non-GAAP numbers that account for the full revenue from iPhones sold during the quarter. (GAAP rules spread it out over 24 months; see The day Apple released its iPhone revenue bomb.)
The consensus among the analysts we polled is that Apple will report non-GAAP earnings of $3.49 on revenue of $14.93 billion -- up 31% and 27%, respectively.
We've attached those estimates below the fold, dividing them as usual between the professional analysts affiliated with banks and brokerage firms and the bloggers and day traders who roll their own.
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How big was Apple's biggest quarter?
The fourth in a series of previews of Apple's results for the first fiscal quarter of 2010
Two weeks ago we sampled analysts' expectations for Apple's (AAPL) iPhone, iPod and Mac sales in the fiscal quarter that ended Dec. 26.
Today we look at the bottom line -- revenue and earnings per share -- for what Wall Street expects to be Apple's biggest quarter ever.
This exercise is a bit more complicated because MORE
Philip Elmer-DeWitt - Jan 18, 2010 5:09 AM ET -
Analyst: Apple's Q1 will beat Street by $1.2 billion
Blogger-analyst Andy Zaky, whose earnings estimates for Apple (AAPL) this year have proved considerably more accurate than the professionals' (see here), is predicting "the mother of all earnings blowouts" when the Christmas quarter's results come in.
In a preliminary report published Monday on Seeking Alpha and his blog Bullish Cross, Zaky estimates that when Apple releases its fiscal 2009 Q1 results in January, it will report earnings of $1.96 per share MORE
Philip Elmer-DeWitt - Nov 11, 2008 8:43 AM ET -
Graphic: How Apple is gaining on Microsoft
Here's a chart that should keep Steve Ballmer up at night.
It compares Microsoft's (MSFT) market share, revenue, net profit and growth rate to Apple's (AAPL), using the numbers from each company's most recent quarterly report.
Although Apple has a bit more cash on hand ($24.5 billion v. $20.7 billion), Microsoft's operating system still dominates. And if you use generally accepted accounting principles (GAAP), Redmond's revenue and net income still dwarf Cupertino's.
But MORE
Philip Elmer-DeWitt - Oct 26, 2008 9:37 AM ET -
The day Apple released its iPhone revenue bomb
Some Apple watchers have complained almost since the launch of the iPhone that Wall Street doesn't understand the device's value to the company. Analysts consistently underestimate Apple's revenue, these investors insist, because they fail to fully account for iPhone sales.
The problem has been festering for so long -- and the gap has grown so large between Apple's actual earnings and the Street's grasp of those earnings -- that Apple finally MORE
Philip Elmer-DeWitt - Oct 23, 2008 5:36 PM ET
