Apple reports US$13.5bn quarter and record profits

21 Apr 2010

Double the number of sales of its iconic iPhone device produced a US$3bn profit on Q2 sales of US$13.5bn for Apple. Co-founder Steve Jobs revealed the iPad will be followed up by several more innovative devices in the next year.

Apple posted revenues of US$13.50bn and net quarterly profit of US$3.07bn, or US$3.33 per diluted share, compared with revenues of US$9.08bn and net quarterly profit of US$1.62bn, or US$1.79 per diluted share, in the year-ago quarter.

Gross margin was 41.7pc, up from 39.9pc in the year-ago quarter. International sales accounted for 58pc of the quarter’s revenue.

“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49pc and profits up 90pc,” said Steve Jobs, Apple’s CEO.

“We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year,” Jobs promised.

Apple sold 2.94 million Macintosh computers during the quarter, representing a 33pc unit increase over the year-ago quarter.

The company sold 8.75m iPhones in the quarter, representing 131pc unit growth over the year-ago quarter.

Apple sold 10.89m iPods during the quarter, representing a 1pc unit decline from last year.

“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about $13.0bn to $13.4bn and we expect diluted earnings per share in the range of about $2.28 to $2.39,” said Peter Oppenheimer, Apple’s CFO.

By John Kennedy

Photos: Apple CEO Steve Jobs (above) and the iPad (below)



John Kennedy is a journalist who served as editor of Silicon Republic for 17 years