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Apple Shines with Bumper Crop
(26 Jan 2010, BWCS Staff)Perhaps not surprisingly, given the recent run of success it has had with its iPhones, Apple has just reported its best quarter ever, with first-quarter earnings easily surpassing Wall Street expectations. Late yesterday, the company handed in profit figures of US$3.37 billion (US$3.74 a share) for the three month period that ended on the 26th December 2009. This marked an increase of 50% on the same period last year. Overall revenue for the first three months of its 2010 financial year stood at US$15.6 billion (up 32%). In fact, most US analysts seemed to think that its revenue would be lower at around US$12 billion.
While the iPhones have contributed greatly to its bumper quarter, it should also be noted that the company has adopted new accounting practices which for the first time allow it to count revenues from the iPhone and Apple TV in the same quarter that the sales are made, rather than over a two-year period, as had previously been Apple's practice.
As with the previous two quarters at Apple, it reported good news from its Mac and iPhone operations, with iPod sales lagging once again. Apple sold 3.36 million Macs, up 33% from a year ago, 8.7 million iPhones, a 100% gain over the last year, and 21 million iPods, which was actually 8% fewer than in the same period in the financial year 2009.
Apple CEO, Steve Jobs, said in a statement that he found it "surprising" that his company is now worth around US$50 billion. As ever, Jobs was keen to increase the air of expectation around new Apple products saying that tomorrow will see the unveiling of "a major new product that we're really excited about."
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