Apple doubles iPhones in record quarter, "major new product"
updated 05:10 pm EST, Mon January 25, 2010
Acknowledges 'major new product' this week
Apple has released the results of its first fiscal quarter for 2010, which ended on December 26th. The company is claiming $15.68 billion in revenue, with a net profit of $3.38 billion, or $3.67 per diluted share; the figures represent a sizable growth over Q1 2009, which generated $11.88 billion in revenue, $2.26 billion in profit, and an EPS of $2.50. Gross margin has also increased from 37.9 percent to an unusually high 40.9 percent.
Mac sales are likewise elevated at 3.36 million, making for a growth of 33 percent year-over-year. iPhone sales are up 100 percent to 8.7 million, whereas iPods are down 8 percent to 21 million.
Owing to new accounting rules recognizing the iPhone and Apple TV, if quarterly revenue is annualized, Apple is now a "$50+ billion company." CFO Peter Oppenheimer adds that the business accumulated $5.8 billion in cash from the quarter, and expects Q2 revenue to be between $11 billion and $11.4 billion, with EPS ranging between $2.06 and $2.18.
CEO Steve Jobs has also taken the step of admitting that Apple will reveal a "major new product" this week, the focus of a January 27th press event. Most analysts and media outlets now believe that it will be a tablet, years in development.
Fresh-Faced Recruit
Joined: Aug 2001
uh-oh
You know what this means! Time for MacNN folks to declare investors idiots because the stock price goes down!