Feeds

Apple earnings leap 50 per cent

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

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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.

Providing a secure and efficient Helpdesk

More from The Register

next story
Will.i.am gets CUFFED as he announces his new wristjob, the PULS
It's got four KILOWATTS of something, apparently
Don't wait for that big iPad, order a NEXUS 9 instead, industry little bird says
Google said to debut next big slab, Android L ahead of Apple event
Netscape Navigator - the browser that started it all - turns 20
It was 20 years ago today, Marc Andreeesen taught the band to play
A drone of one's own: Reg buyers' guide for UAV fanciers
Hardware: Check. Software: Huh? Licence: Licence...?
Jaguar Sportbrake: The chicken tikka masala of van-sized posh cars
Indian-owned Jag's latest offering curries favour with us
iPhone 6 shunned by fanbois in Apple's GREAT FAIL of CHINA
Just 100 Beijing fanbois queue to pick up new mobe
The Apple launch AS IT HAPPENED: Totally SERIOUS coverage, not for haters
Fandroids, Windows Phone fringe-oids – you wouldn't understand
Here's your chance to buy an ancient, working APPLE ONE
Warning: Likely to cost a lot even for a Mac
Is living with Dolby Atmos worth the faff?
Subtle, naturalistic ambiance – perfect for Transformers 4
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.