Apple Q2 revenue sky high
By Wilson • Apr 21st, 2010 • Category: Industry News
- Photo: Stock.Xchng
Apple is rated 56 on the Fortune 500, the shortlist for the absolute largest companies in North America. So it would stand to reason that even if the company is growing, it would go at a steady pace. If the company’s blockbuster earnings are any indication, the company clearly doesn’t believe in reason, and iPhone sales are the most unreasonable of the lot.
Revenue and profits
Apple reported quarterly revenues of $13.5 billon with a net profit of $3.07 billion, beating both Wall Street and Apple’s own internal estimations. This represents a 49% revenue increase over last year’s $9.08 billion, and a whopping 90% profit increase over last year’s $1.62 billion, driven significantly by iPhone sales.
And these results don’t even include the sales performance from the iPad. How about that?
Individual product performance
- Photo: Apple
Across Apple’s various product categories, The Mac product set had solid growth, while iPod sales were flat, and iPhone sales soared. iPhone sales more than doubled in the quarter compared to the same quarter last year, selling 8.75 million units as opposed to 3.793 million the year prior. What’s particularly amazing is this figure is almost identical to the amount of iPhones it sold during Q1.
Share price surge
At the close of market, Apple’s stock was valued at $245 with after hours trading putting the company at 256$, for a total market cap of $240 billion dollars, which is 40 times what Apple was valued at 12 years ago.
- Photo: Apple
With the iPad performing above everybody’s expectation, iPhone sales enjoying constant growth, and the App store revenue machine having another channel added to it, nothing indicates this success will slow.
Not being brokers or analysts, it’d be reckless to recommend purchasing Apple equity, but those who got in during the recessionary slump where Apple’s stock was hovering at $80 in recessionary December 2008 have enjoyed a 300 per cent plus return since. Think about that.
Tags for this article: iPhone, ipod, Q2 revenue
