Apple Q1 Results: It’s Another Blockbuster With More Sales, More Revenues, More Profits
4:54 pm, January 25th, 2010, Leander Kahney
Apple’s first quarter of 2010 was another blockbuster, and Steve Jobs is talking about a major new product this week that he’s “really excited about.”
In financial results reported Monday, Apple says it earned “all-time highest revenues and profits.” The company made revenues of $15.68 billion and profits of $3.38 billion on sales of 3.36 million Macs and 8.7 million iPhones.
“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO, in a statement. “The new products we are planning to release this year are very strong, starting this week with a major new product that we’re really excited about.”
Everything except sales of iPods (which are down 8%) is in record territory — iPhone sales are up 100% and Macs up 33%.
Here are the highlights:
* 3.36 million Macs sold (33% unit increase over year-ago quarter).
* 8.7 million iPhones sold (100% unit growth).
* 21 million iPods sold (8% unit decline).
* $15.68 billion revenue ($11.88 billion in the year-ago quarter).
* $3.38 billion net quarterly profit, or $3.67 per diluted share. ($2.26 billion, or $2.50 per diluted share, last year).
* 40.9% gross margin was (37.9 percent in the year-ago quarter).
* International sales accounted for 58 percent of revenue.
Apple’s a money machine. The 41% gross margin is unbelievable, especially in a recession. Competitors atre lucky to make 5% margins.
It’s also worth noting that a big bump in revenue came from Apple’s adoption of new accounting practices. Revenue from sales of iPhones and Apple TVs are now recognized immediately, rather than being spread over two years. Apple used subscription accounting for iPhones and Apple TVs so that it could provide free software upgrades without running afoul of accounting rules.
Posted by Leander Kahney in Apple, News | Comment on this article
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as a stock holder, all i can say is : D !!
Erfon Elijah, on January 25th, 2010 at 6:02 pm
Suck it, you Mac-haters!
Mattzook, on January 25th, 2010 at 10:45 pm
Now, this is more like it Mr. Kahney. Almost there.
But the wider problem remains. Like your books on SJ and Apple, CoM has to move beyond repeating what other people have said and create its own original material and, where reporting on news created elsewhere, to add its own (hopefully informed) comment.
chandra
chano, on January 26th, 2010 at 4:48 am