Apple Q3 earnings confirm the company prints money
By Wilson • Jul 22nd, 2010 • Category: Industry News
- Photo: Stock.Xchng
As if it wasn’t expected, Apple has had a fantastic quarter, yet again. The company posted record revenues, record Mac sales, and unbelievable iPad sales that nearly beat the aforementioned Mac sales according to the latest Apple earnings report. Wow.
Over $1 billion profit per month
Apple’s Q3 2010 report saw the company bring in record revenues of $15.7 billion, making it their most successful quarter ever. As big a deal as that is, one must bear in mind it isn’t even their Christmas quarter, where the company tends to post their strongest sales figures by some way.
Net profit from that revenue base came in at $3.25 billion, or $3.51 for each diluted share. If you’re doing quick arithmetic, then yes, that is more than $1 billion profit per month. If that doesn’t drive the point home, it’s more than $30 million profit per day. Unreal. Apple’s profit has increased 78 per cent!
Mac sales explode, iPad sales nearly catch up
Macs saw record shipments this quarter, as well, with the company selling more than 3.47 million units. Take pause and note that they have never sold more Macs than this in a single quarter. Now read this next tidbit carefully: the company’s latest golden device, the iPad, nearly outsold the Mac in its first ever reported quarter, moving 3.27 million units. And we kind of knew this was coming. Wow, again.
iPhone does what iPhone does – move units
- Photo: Apple
The iPhone, Apple’s key device and major revenue spinner, continued to move units as well, selling 8.4 million units this past quarter. No, oddly enough, this is not a record, but one needs to remember that this was in the quarter leading up to the release of the highly anticipated (and high selling) iPhone 4, meaning potential iPhone buyers preferred to wait to purchase Apple’s latest smartphone.
The Apple earnings report did have one piece of, let’s call it, bad news: the steady decline of iPod sales – as a result of being cannibalised by other Apple products – continues unabated, with Apple only moving 9.41 million iPods in this last quarter. Shame.
There’s more to come
Oh, and Steve Jobs took the opportunity to sneak in one last tidbit in the Apple earnings report, saying, ‘we have amazing new products still to come this year’.
Like them or not, this company sells mobile computing devices as a front so as to divert our attention from what they really have a license to do – print money. Wait, I swear we’ve written those words before…
Tags for this article: Apple iPad, iphone 4, ipod
