Feeds

Apple earnings leap 50 per cent

Jobs: 'We're a $50 billion company'

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Updated Apple began one of the most important weeks in its recent history by reporting a 50 per cent jump in profits for the first quarter of its fiscal year when compared with the same period in 2009.

This Wednesday, Apple is all but certain to unveil its long-awaited but still inscrutable iPad. Monday's news, however, left no room for speculation: The company earned a profit of $3.38bn. During the same period last year, earnings were $2.25 billion.

Overall revenue was equally strong: $15.68bn, compared to $11.88 billion in 2009's first quarter, beating consensus predictions by Wall Street guessmen.

The results showed strong growth from Apple's previous quarter - which was a barn-burner in its own right. In Q3, Apple sold more Macs and iPhones than in any previous quarter.

But after Q4, Steve Jobs has upped the stakes again. "If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company," he said. "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."

There's that iPad again.

But this quarter's result reminded the world that Apple's not just a manufacturer of pocketable gadgets. Cupertino sold 3.36 million Macs during the quarter, a 33 per cent increase over the same period last year.

iPhone sales were also strong, with 8.7 million of the phones being snapped up. That's a 100 per cent increase over the year-ago quarter. ®

Update

Some analysts are opining that Apple's revenue surge was caused by an accounting change that redistributes the income and expense figures for iPhone and Apple TV. During the company's Monday-afternoon conference call with reporters and financial folk, Apple CFO Peter Oppenheimer clarified that impact.

"Our actual revenue of $15.68bn exceeded the guidance that we gave under the old accounting principles by over $4bn," Oppenheimer said. "Roughly half of that was attributed to the performance of the business ... and the accounting change accounted for the other half of the $4bn."

So, yes, the accounting change had an impact, but Apple still exceeded the goals that it had announced at the end of last quarter by $2bn directly attributable to performance.

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Oi, Tim Cook. Apple Watch. I DARE you to tell me, IN PERSON, that it's secure
State attorney demands Apple CEO bows the knee to him
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Hey, Mac fanbois. HGST wants you drooling over its HUGE desktop RACK
What vast digital media repository could possibly need 64 TERABYTES?
Soundbites: News in brief from the Wi-Fi audiophile files
DTS and Sonos sing out but not off the same hymnsheet
In a spin: Samsung accuses LG exec of washing machine SABOTAGE
Rival electronic giant tries to iron out allegations
Your chance to WIN the WORLD'S ONLY HANDHELD ZX SPECTRUM
Reg staff not allowed to enter, god dammit
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.