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Apple Q1 2010 Results: Most Profitable Quarter Ever

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Apple has reported its financial results for the first quarter of its 2010 fiscal year. The numbers are staggering and Apple is now a $50+ billion dollar company. Let’s take a look at some of the numbers, which are based on a new FASB standard for revenue recognition:

  • $15.68 billion revenue ($11.88 billion a year ago)
  • $3.38 billion net quarterly profit ($2.26 billion a year ago)
  • International sales represent 58 percent of the quarter’s revenue
  • Revenue was up 16% in the Americas, 24% in Japan, 55% in Europe and 71% in Asia Pacific.

How many products did Apple sell in Q1 of 2010?

  • 3.36 million Macs (33% increase)
  • 8.7 million iPhones sold (100% growth from a year ago!)

With the Apple Event taking place this Wednesday, the “tablet” hoopla is at an all time high. Statements like this by Steve Jobs only adds to the hype:

“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO. “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.”

Here is a picture of the Yerba Buena building being decked out for Wednesday:

Given that the world economy is still recovering from widespread economic turmoil, it’s pretty impressive that Apple is able to put up such numbers when people are pinching their pennies. I guess I’m not the only sucker for shiny new Apple products, eh?

You can listen to the live Q1 – 2010 Conference Call here.

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  • Dusty

    Congrats to Apple!

  • iVictoria

    While the numbers for Apple are impressive, there is a note of caution in comparing last year's numbers with those just released. As I understand it, Apple has adopted some new accounting procedures which allow it to recognize income much soon than in previous years. Which accounting standard is better is irrelevant. It just means that in comparing the figures from this year to those of last year, you are comparing apples (excuse the pun) and oranges. Nevertheless, the sales and trends for Macs and iPhones are impressive regardless of how you look at it; especially in these troubled economic times.

  • iVictoria

    While the numbers for Apple are impressive, there is a note of caution in comparing last year's numbers with those just released. As I understand it, Apple has adopted some new accounting procedures which allow it to recognize income much soon than in previous years. Which accounting standard is better is irrelevant. It just means that in comparing the figures from this year to those of last year, you are comparing apples (excuse the pun) and oranges. Nevertheless, the sales and trends for Macs and iPhones are impressive regardless of how you look at it; especially in these troubled economic times.

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