Apple Announces Huge Profits But No Word On Jobs Health
During the Apple earnings call Apple announced a whopping 71 percent increase for their fiscal 1st quarter for their Macs, Apple iPad and iPhone handsets, but remained tight lipped on the subject of CEO Steve Jobs’ medical leave.
According to an article over on the Wall Street Journal, Apple execs concentrated on how well the company was doing with acting CEO Tim Cook stating…“In my view, Apple is doing its best work ever. The team here has an unparalleled breadth and depth of talent and a culture of innovation that Steve has driven in the company.”
The Apple earning call lasted approximately an hour and not one mention of Steve Jobs’ sudden leave of absence, the iPhone Guru’s third medial leave.
However concerns still linger as Apple shares fell in early trading on Tuesday with Nasdaq trading down 2.3 percent to $340.62 but rose again in after trading hours gaining 1.5 percent to $345.60.
According to Sanford C. Bernstein analyst Toni Sacconaghi…“The company has placed a priority on privacy, arguably at the expense of shareholders. Companies have an obligation to disclose material information, and we, and most shareholders, view the health of Apple’s CEO as material.”
As for the figures, Apple delivered a strong forecast and expects current quarter earning per share of $4.90 which is up 47.1 percent on the year previous on revenue of $20.6 billion which is roughly up 63 percent on the year before.
Apple reported a profit of $6 billion or $6.43 a share for the quarter ending December the 25th with revenue at $26.7 billion which is up from $15.68 billion the previous year.
We have a video courtesy of the WSJ that discussed the Apple earning call figures and Steve Jobs medical leave so hit that play button and check it out.