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:
â€œIf you annualize our quarterly revenue, itâ€™s surprising that Apple is now a $50+ billion company,â€ said Steve Jobs, Appleâ€™s CEO. â€œThe new products we are planning to release this year are very strong, starting this week with a major new product that weâ€™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.