Apple Reports Record Second Quarter
Revenue Up 43 Percent Year-Over-Year
CUPERTINO, California—April 23, 2008—Apple® today announced financial results for its
fiscal 2008 second quarter ended March 29, 2008. The Company posted revenue of $7.51 billion
and net quarterly profit of $1.05 billion, or $1.16 per diluted share. These results compare to
revenue of $5.26 billion and net quarterly profit of $770 million, or $.87 per diluted share, in the
year-ago quarter. Gross margin was 32.9 percent, down from 35.1 percent in the year-ago
quarter. International sales accounted for 44 percent of the quarter’s revenue.
Apple shipped 2,289,000 Macintosh® computers during the quarter, representing 51 percent unit
growth and 54 percent revenue growth over the year-ago quarter. The Company sold 10,644,000
iPods during the quarter, representing one percent unit growth and eight percent revenue growth
over the year-ago quarter. Quarterly iPhone™ sales were 1,703,000.
“We’re delighted to report 43 percent revenue growth and the strongest March quarter revenue
and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO. “With over $17 billion in
revenue for the first half of our fiscal year, we have strong momentum to launch some terrific
new products in the coming quarters.”
“We’re thrilled to have generated $4 billion in cash flow from operations in the first half of fiscal
2008, yielding an ending cash balance of $19.4 billion,” said Peter Oppenheimer, Apple’s CFO.
“Looking ahead to the third quarter of fiscal 2008, we expect revenue of about $7.2 billion and
earnings per diluted share of about $1.00.”
Apple will provide live streaming of its Q2 2008 financial results conference call utilizing
QuickTime®, Apple’s standards-based technology for live and on-demand audio and video
streaming. The live webcast will begin at 2:00 p.m. PDT on Wednesday, April 23, 2008 at
www.apple.com/quicktime/qtv/earningsq208/ and will also be available for replay.
This press release contains forward-looking