Feeds

Apple earnings leap 50 per cent

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

  • alert
  • submit to reddit

The Power of One Brief: Top reasons to choose HP BladeSystem

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.

Using blade systems to cut costs and sharpen efficiencies

More from The Register

next story
Report: American tech firms charge Britons a thumping nationality tax
Without representation, too. Time for a Boston (Lincs) Macbook Party?
Child diagnosed as allergic to iPad
Apple's fondleslab is the tablet dermatitis sufferers won't want to take
Microsoft takes on Chromebook with low-cost Windows laptops
Redmond's chief salesman: We're taking 'hard' decisions
For Lenovo US, 8-inch Windows tablets are DEAD – long live 8-inch Windows tablets
Reports it's killing off smaller slabs are greatly exaggerated
Cheer up, Nokia fans. It can start making mobes again in 18 months
The real winner of the Nokia sale is *drumroll* ... Nokia
Seventh-gen SPARC silicon will accelerate Oracle databases
Uncle Larry's mutually-optimised stack to become clearer in August
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.