updated 05:00 pm EDT, Wed July 25, 2007
270K iPhones in 2 days
Apple on Wednesday announced that it has sold 270,000 iPhones in the first two days of sales on opening weekend, nearly double the AT&T estimates of 146,000 activation, but well short of expectations. The company is reported to have sold many more of its higher-end phones: it sells a 4GB version for $499 and a 8GB model for $599. The company's financial statements show that revenue from the iPhones--during the first two days of sales--was only $5 million based on its decision to amortize iPhone sales and revenue over a 24-month period.
On Wednesday, the Cupertino-based company also posted greater-than-expected profits of $818 million on record Mac sales and growing gross margin: the company said it shipped 1.76 million Macs during the quarter, exceeding the year-ago quarter by 33 percent.
The numbers were well ahead of street consensus estimates of $5.28 billion and $0.72.