Apple edges Acer for No. 3
Research firm IDC reports that worldwide PC shipments grew at 15 percent in the second quarter of 2008. The quarter also saw Apple roughly tie Acer in the US market, assuming fourth place and missing third place by only a few thousand units. Demand in the United States suffered from the ongoing economic pressure, with rowth in the low single-digits. Dell continued its recovery with another quarter of double-digit growth, while HP saw year on year growth rise from the first quarter. Portable adoption continues to be a key driver, even though consumer share is generally at its lowest during the second quarter.
Dell revenue up
Dell has reported fiscal first quarter revenue of $16 billion, a 9 percent year-over-year increase. While net earnings of $0.38 cents per share represent a 12 percent increase, operating income was down 4 percent compared to the year-ago quarter. In a statement, Dell officials said that the results were driven by "better-than-industry growth of commercial and consumer products and services, and lower operating expense as a percent of revenue." Specifically, notebook sales skyrocketed 43 percent, a rate Dell says is 1.2 times the industry average. The consumer segment was also especially strong, with Dell claiming to grow global share of this market by 1.2 points to 8.8 percent during the quarter.
Google beats estimates
Google today posted its first quarter profits, thoroughly outpacing Wall Street analyst estimates, which were based on the effects a slowing economy would have on sales and earnings. According to CNN Money, the news follows a weak fourth quarter last year, with earnings coming in under analyst estimates. The report shows Google's income rising 30 percent to $1.31 billion – $4.12 a share – with $1.54 billion before one-time charges.
Apple makes top ten list
Apple has squeezed its way onto the top ten list of worldwide wireless phone suppliers, according to a recent report published by Gartner Consulting. The Inquirer didn't mention at which spot Apple sits, but noted that accompanying Apple into the top ten were China's ZTE, and Waterloo, Ontario-based RIM. The author for The Enquirer questions whether Apple can maintain its position as the first quarter of the year is underway.
Summary of Q1 financials
Apple recently made available its first quarter financial data for 2008, which displayed record earnings for the company. Senior VP and CFO Peter Oppenheimer guided analysts and industry insiders through the quarterly figures, citing record Mac sales, with strong software and iPod sales backing the numbers. A strong install-base of Mac OS X 10.5 Leopard has also helped the company's quarter, with estimates being placed at a 19-percent install base on Macs. Apple's cash generation has doubled that of its net income, and has over $18 billion of financial reserves.
iPod sales flat
Apple's iPod sales were relatively flat year-over-year, showing 5 percent unit shipment growth but significant 17 percent revenue growth in the fiscal first quarter. 22,121,000 iPods representing $3,997,000,000 were sold in the quarter, compared to 21,066,000 units representing $3,427,000,000 in the year-ago-quarter. The higher revenue is likely due to a richer product mix caused by the sale of more iPod nanos and iPod Touch units and less iPod Shuffles. Other music related services generated $808 million in revenue vs. $601 million in the year-ago quarter. Meanwhile, 2,315,000 iPhones were sold in the quarter, representing $241 million in revenue -- a 107 percent sequential increase in units compared to the the fiscal fourth quarter of 2007.
Apple's Q1 2008 results
Apple on Tuesday will release its Q1 fiscal results, which are expected to show better-than-anticipated numbers, mainly due to strong Mac sales. Despite a steady tumble in share price starting in early January, analysts are predicting that Apple could be worth close to $600 per share within 18 months. In addition to strong machine sales, the optimistic outlook is fueled by Apple's desire to sell 10 million iPhones by the end of 2008, as well as the prospect of an iPhone "nano".