Earnings Recap Cheat Sheet: Apple (AAPL) and Steve Jobs Save Tech … Again

Apple crushed earnings … again. Apparently, Steve Jobs is King of the World

Earnings: Apple (Nasdaq: AAPL) posted net quarterly profit of $3.25 billion, or $3.51 per diluted share compared to a profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Wall Street consensus called for $3.11 a share.

Revenue: Apple posted record revenue of $15.7 billion compared to revenue of $9.73 billion in the year-ago quarter and Wall Street’s consensus of $14.75 billion.

“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Steve Jobs, Apple’s CEO. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

Comment: Shares of Apple are up 3% AH. Once again, Steve Jobs is the savior of Wall Street. The question remains whether these numbers are enough to help ward off the bears, or whether the dismal macro picture will remain in the media spotlight.

Here is Apple’s full press release which includes sales from each major product division:

CUPERTINO, Calif., July 20 /PRNewswire-FirstCall/ — Apple® today announced financial results for its fiscal 2010 third quarter ended June 26, 2010. The Company posted record revenue of$15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share. These results compare to revenue of $9.73 billionand net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter’s revenue.

Apple sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. The Company sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter.  The Company began selling iPads during the quarter, with total sales of 3.27 million.

“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Steve Jobs, Apple’s CEO. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

“We’re really pleased to have generated over $4 billion of cash during the quarter,” said Peter Oppenheimer, Apple’s CFO.  “Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44”

The Wall St. Cheat Sheet Premium Newsletter has delivered 15 out of 16 winning picks since inception in November 2008. Let the Hoffman Brothers give you their best investing and trading ideas: click here now for your free trial.

Disclosure: No holdings in AAPL.