Apple profits soar 77% on record sales of 3.47 million Macs
Apple said Tuesday that third-quarter profits rose more than 77 percent to $3.25 billion, or $3.51 per diluted share, on sales of $15.7 billion for the three-month period ended June 26, 2010.
The results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter's revenue.
Apple sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. The company sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple also sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. Â*Meanwhile, iPad sales totaled of 3.27 million.
"It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4," said Steve Jobs, Apple's CEO. "iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year."
"We're really pleased to have generated over $4 billion of cash during the quarter," added Peter Oppenheimer, Apple's CFO. Â*"Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44" Â*
Apple will provide live streaming of its Q3 2010 financial results conference call beginning at 2:00 p.m. PDT on July 20, 2010. AppleInsider will provide full coverage.
The results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter's revenue.
Apple sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. The company sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple also sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. Â*Meanwhile, iPad sales totaled of 3.27 million.
"It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4," said Steve Jobs, Apple's CEO. "iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year."
"We're really pleased to have generated over $4 billion of cash during the quarter," added Peter Oppenheimer, Apple's CFO. Â*"Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44" Â*
Apple will provide live streaming of its Q3 2010 financial results conference call beginning at 2:00 p.m. PDT on July 20, 2010. AppleInsider will provide full coverage.
Comments
Looks like AAPL is getting ready for their first $20B+ quarter later this year...
The lower EPS guidance despite much higher ($18B) revenue guidance for the next quarter is very interesting. Is this because of new products with lower margins on the horizon or projected price cuts on existing products?
Looks like AAPL is getting ready for their first $20B+ quarter later this year...
You can't place any importance in forward guidance. It is always a low-ball joke. Just enjoy the current numbers.
"and we have amazing new products still to come this year."
God, this tidbit gets me even more excited.
Haters wrong yet again.
Go Apple!
God, this tidbit gets me even more excited.
Haters wrong yet again.
iPod touch with a camera or two?
oh-no! apple is doomed!?
There. Fixed it for you.
God, this tidbit gets me even more excited.
Haters wrong yet again.
I wonder if there really will be new products or just new versions of existing products, i.e. iPod Touch refresh, etc.
I wonder if there really will be new products or just new versions of existing products, i.e. iPod Touch refresh, etc.
I dunno, I'm expecting at least one new product category and a slew of older products with new hardware specs.
The lower EPS guidance despite much higher ($18B) revenue guidance for the next quarter is very interesting. Is this because of new products with lower margins on the horizon or projected price cuts on existing products?
Looks like AAPL is getting ready for their first $20B+ quarter later this year...
They have been guiding down margins for a long time, but one of these days I expect it to be serious. It would take a dramatic change in product mix for the margins to get that much lower though-- like a $100 drop in ASP for iPhones to around $500.
I wonder if there really will be new products or just new versions of existing products, i.e. iPod Touch refresh, etc.
of course new version of existing products.
It's pretty rare Apple would launch 2 new products a year.
in fact don't expect a totally new product (like iPad) for a year or two.
Go AAPL
Whew. Unbelievable. The rest of tech is simply left scratching its collective head and wondering where this runaway train is headed next.
Go Apple!
the more apple sells, the faster internet is needed, and the more advanced equipments are needed. this is definitely bearing good for many tech companies. this is simply amazing.
"we have amazing new products still to come this year."
New iPod Touch
New Apple TV
What else?
- New (smaller, lighter, thinner) MacBook Air?
- Will the new MacPro wait until Jan'11
- An incremental update to iMac?
- Smaller, lower cost iPad variant?