Photo: Robert Scoble on flickr
It is truly amazing how the world’s largest company can still grow revenues by 73 per cent y/y and earnings by over 100 per cent. Apple blew away analyst estimates in today’s release by almost 40 per cent, earning $13.87 in fiscal Q1 2012. They also beat the Street’s revenue estimates by a margin larger than Nicaragua’s 2011 GDP! Big numbers.Our priors were that much of the revenue growth would come from Asia. Not true. In fact, Asia revenue growth was the lowest at just over 50 per cent, which makes us even more bullish as China’s pent up demand will be saved for later quarters.
Still not impressed? Apple grew revenues in Europe in the quarter ending December 31 by 52 per cent during the worst of the sovereign and banking crisis all while fighting the headwinds of a soaring dollar. Stunning!
The company now holds around $103 in cash with no debt. Maybe the market will, at last, put a decent multiple on Apple’s earnings, one that it has earned and deserves, as the company continues to lead the world from the Information Age into the Wireless Age. It’s that epic, folks, and not many recognise it.
Also, back by popular demand is the Apple GDP metric.
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