Apple Reports Q3 Earnings: All Time Record Revenue
Yesterday Apple had announced their third quarter 2010 financial results. The last quarter Apple sold 8.75 million iPhones. How were earnings this quarter, especially with the introduction of the iPad? Pretty good from the numbers below I’d have to say.
Here are some key numbers from their Q3 conference call:
- Record revenue of $15.7 billion and net quarterly profit of $3.25 billion
- Year ago quarter comparison: $9.73 billion and net quarterly profit of $1.83 billion
- 8.4 million iPhones sold (61% increase compared to year ago quarter)
- 9.41 million iPods sold (8% decline from year ago quarter)
- 3.47 million Macs sold (new record; 33% increase compared to year ago quarter)
- 3.27 million iPads sold (wow)
- 4 billion + in cash generated
- International sales accounted for 52% of revenue
Words from CEO Steve Jobs:
â€œIt was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Appleâ€™s history with iPhone 4,â€ said Steve Jobs, Appleâ€™s CEO. â€œiPad 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.
Take a look at the number of iPad vs Mac sales. Apple almost sold more iPads than Macs. Maybe this ‘new’ category is actually something worth looking into? It doesn’t help when other ‘tablet’ manufacturers keep on coming up with ‘vaporware’ (ie HP Slate, Microsoft Courier) that helps Apple’s cause.
iPhone 4 Units Selling Like Hotcakes
Even with “Antennagate“, people are still buying the iPhone 4 and Apple can’t keep up with demand. Once the iPhone 4 hits the second wave of countries (which includes Canada), expect stock levels to remain at low levels. Apple’s chief operating officer Tim Cook declared: “We are selling every unit we can make.” I can’t wait to get my hands on the iPhone 4 when it’s released on July 30th in Canada!