Apple earnings leap 50 per cent
Jobs: 'We're a $50 billion company'
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.
COMMENTS
Eh?
"Yes I have an iPhone and I detest it, its a horrific user experience."
I mean, each to their own, but, seriously...how the f**k to you define the iPhone as a 'horrific user experience'? You need help. Have you ever used Win Mobile?
Well, there ya go...
Well, as my PC-adoring buddy told me shortly before Windows 7 was launched, "With Windows 7 the end is nigh for Apple".
I'm just off to rub this article in his spotty, ugly, stupid fat face.
That is all!
Paris because... well, because.
I love it.
Apple continues to prove the geeks wrong by selling lots of their 'overpriced' products. It just goes to show that all the armchair experts on here don't understand the real world and how normal folks think.
They don't buy Apple products because they are expensive and exclusive (ok a small number may do) they buy them because the user experience is better and as more and more people are exposed to their products the better the numbers will be.
Looking forward to the new tablet as it will do it's job better than any other competing product out there and will do for ebooks what the iPod did for digital music. Of course the 'experts' will say some cheaper android device will do it cheaper but again they will miss the point.
Register users
I really do think some Register commentards actively spend their entire days trying to talk a new reality into existence. $50 billion is 'nothing' in their world, in the same way that a five year plan to sell $5 billion, in shares, is a sign that 'Google Is Imploding'. These people need a 'centre alignment' option, to give their comments that extra bit of of credibility.
Maybe they reason that if the can just clog up the entire Internet with their own version of the truth, then The World Will Listen? The problem is, that people will only listen, if you're interesting enough to read, in the first place.
Mine's the one with the Nissan Micra car keys, in it, where I'd much rather find $50 billion.
@AC: $50 billion
Listen up, schmuckface
Apple, a single entity, sold three million Macs. God alone knows how many companies or guys in garages sticky-taped a bunch of PCs together. Was it hundreds? Thousands? Micky Dell, the chaps from Acer and, er, whoever the other wackos are, rather dilute the effort and make your argument look pretty damned silly.
Oh, and it's hard to imagine that you find Windows a more satisfying experience when all that OS is these days is a pale imitation of Apple's version. Here's a tip: the start button at bottom left of your screen doesn't appear on the Mac desktop.
Thank you for trolling.
