Apple has released its earnings results for its fourth fiscal quarter for 2007. The results? Revenue of $6.22 billion. Profits of $904 million. 2.164 million Macs sold (a new quarterly sales record). 10.2 million iPods sold. 1.119 million iPhones sold. Not bad.

“We are very pleased to have generated over $24 billion in revenue and $3.5 billion in net income in fiscal 2007,” said Steve Jobs, Apple’s CEO. “We’re looking forward to a strong December quarter as we enter the holiday season with Apple’s best products ever.”

“Apple ended the fiscal year with $15.4 billion in cash and no debt,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the first quarter of fiscal 2008, we expect revenue of about $9.2 billion and earnings per diluted share of about $1.42.”

Watch this post for live updates from the earnings conference call, which begins at 5 PM ET, 2 PM PT.

Conference call updates - reload for latest

In reverse-chronological order, updates every 2-3 minutes..

-3:02: And that’s a wrap! Podcast of the conference call will be available later on iTunes.
-3:01: Q: how much has each iPhone $100 rebate created in sales? A: not saying (basically)
-3:00 PM PDT: Q: asia pacific 2.5G or 3G? A: “nothing to announce today” (Did anyone expect otherwise?)
-Q: iTunes. looking for new forms of content? A: iTunes is largest library of content for sale. unparalleled.
-2:58: Q: as apple scales up can it maintain its advantages? A: a lot of room left for growth. apple is experienced scaling products (e.g. iPod)
-european business grew 40% year over year; iPod probably helped them in Europe
-asia pacific is fastest growing region
-2:55: Q: mac install base size? tiger? A: 21 million macs could run Leopard (might have misheard). Tiger did $100 million revenue first quarter of launch.
-mac record broken by 400,000 units this quarter. twice as many macs as 2004. because “best macs in the history of the company”, shipped over a 120 million iPods, introducing Apple brand through iPod to Windows users
-retail stores expand customer base. and attribute to most successful back to school season
-2:52: Q: pilot with Circuit City?  A: not doing that. expanding with Best Buy. 270+ Best Buy by end of the quarter.
-95% of iPhone owners would recommend iPhone
Q: Something about pro business A: incredible growth in video business - final cut, audio business - logic, buyers weary of changing to both cs3 and leopard
Q: iTouch cannabalization of iPhone? A: no obvious evidence before launch. not enough data yet after launch.
-2:49:  dead air…
TUAW confirms 250k iPhones sold to unlockers(!)
-2:46:Q: immediately after iPhone price cut, how were sales?  A: some phones were sold to people with an intention to unlock. guess is 250,000 bought with intention of unlocking, including those bought after price cut. (Did we hear this correctly?? )
-AT&T wont pay Apple for an iPhone if the person unlocks it; the deal requires the iPhone owner use AT&T for Apple to get paid
-2:43: Q: number of ipod distribution locations? A: 40,000. 2,000 mac locations added in last year. 8700 or so Mac.
Q: accounting of iPhone over 24 months. why not account for $100 rebate over 24 months? A: We didn’t quite catch the answer. Sorry.
-2:40: Q: when ship 3 millionth iPhone?  A: “we’re not predicting” confident “10 million” by next year
Q:When iPhone in Asia? A: calendar year 2008.
Q: japan market lagging? A: Japan continues to be most challenging major market. iMac well received. macs overall selling good relative to other recent quarters.
-2:37: Qbiggest drivers quarter over quarter (e.g. iPod) ? A: holiday quarter usually big for iPods.
Q: iPhone sales? A: sales accelerated after the price reduction. total 1.1 million in quarter, total 1.4 overalll
- for business: desktop class e-mail. unprecedented internet device.
-2:35: Q:currency influencing stock price?  A: mac units 4x better sales than expected in W. Europe.
-2:32: Q:how iphone rebate accounting? A: accounted for as redeemed...most will redeem by end of Sept. quarter
Q: iPhone pricing strategy in Europe? A: price includes VAT and other related duties
-2:30: Q: how many best buy stores with Macs? A: 230 at sept. quarter, expecting 270 the next quarter
Q: person references apple had said there have been higher component costs A: HD and LCD “tight”
-2:28: Q:  accounting question… A: the iPhone revenue will be “amortized” over 24 months (something about AT&T paying them; apple won’t go into detail)
Q: is att long agreement? A: “multi-year exclusive agreement”
-2:25: Q: why is apple expecting continued success during an uncertain economy? A: “apple is shipping the best products” in its history...iPods sales...best iPods we’ve ever made...the iPhone is doing really well
-Mac sales might be lower for holiday season because of success of back to school promotion
-2:23: Q&A time…
-2:23: holiday buying season “with strongest product lineup in apple history”
-2:21: Apple has cash of $15.4 billion
gross margin expected to be 31%
Apple says it is proud of its record 2007 results
approx. $3.5 billion net income
-2:19:50% of new mac sales are to switchers
~12,000 customers per store per week
beijing store next summer
36% year over growth in mac sales, partly thanks to back to school promotion
-2:17: apple retail stores - increasing sales of mac, new ipods, and iphone
avg $6.6 million revenue per store
-2:15: 1.119 million iPhones sold in the quarter?
24 month period for accounting iPhone revenue
iPhones in Europe starting Nov. 9, Nov 29 in France
-2:14: iTunes has 80% share in online music store
17% of music sales are now digital
iTunes 3rd largest music distributor in US
-2:13 PM: 10.2 million iPods
17% growth
new iPods reactions very positive
“best iPod lineup ever”
other music revenue grew 30%+ (iTunes)
-portables increase over 30% in sales
-shipped 2.16 million macs
-net income 904 million
up 60%+ from 2006
-2:11 PM: record results high quarter ever
6.22 billion
20+% increase from last quarter from mac sales and ipods
-Peter Oppenheimer + Tim Cook taking part
-2:04 PM PDT: So far no luck with the conference call streaming.