Another amazing quarter for Apple Inc thanks to great sales of the iPhone, iPad and Macs.The company reported a 78 percent increase in earnings . iPad sales have not had a negative impact on Mac or iPhone sales. Surprisingly iPod sales have decreased but iPod touch sales are up and Apple has close to USD 47 billion cash in the bank !
Here is the breakout of the sales
- Total sales: $15.7 billion, up 61.3% year over year
- Profit: $3.25 billion, up 77.6%
- Mac sales: 3.47 million units, up 33%
- iPhone sales: 8.398 million units, up 61.25%
- iPod sales: 9.4 million units, down 7.9%
- iPod touch sales: up 48%
- iPad sales: 3.27 million, slightly below the Street’s consensus
- Cash and marketable securities: $45.8 billion, up $4.1 billion from Q2
The impact of offering free cases / bumpers to iPhone 4 users might cost the company $175 million .
Apple Reports Third Quarter Results
All-Time Record Revenue
Earnings Increase 78 Percent
CUPERTINO, California—July 20, 2010—Apple® today announced financial results for its fiscal 2010 third quarter ended June 26, 2010. The Company posted record revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share. These 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 sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. The Company began selling iPads during the quarter, with total sales 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.”