Apple Reports All-Time Highest Revenue, Sold 8.7 Million iPhones in Q1 2010

Tuesday 26th January 2010 - 13:05

Two days before the long-awaited unveiling of the company’s “latest creation”, Apple revealed financial results for its Q1 2010 (ended December 26, 2009).

The company posted revenue of $15.68 billion and a net quarterly profit of $3.38 billion, or $3.67 per diluted share.

These results compare to revenue of $11.88 billion and net quarterly profit of $2.26 billion, or $2.50 per diluted share, in the year-ago quarter.

International sales accounted for 58 percent of the quarter’s revenue.

Apple sold 8.7 million iPhones in the quarter, representing 100 percent unit growth over the year-ago quarter.

Sales went up especially in Japan (400 percent!), Australia, UK, France, and Germany. Apple’s flag device is now sold in 86 countries. 17 new carriers have added iPhone to their offerings.

Apple COO Tim Cook said the company is moving slow in China because they are focused on building the brand there and on the quality of point of sale (there are 1500 points of sale for the iPhone in China). Earlier this month Apple activated over 200,000 units in China.

The company also sold 3.36 million Macs during the quarter (a 33 percent unit increase over the year-ago quarter) and 21 million iPods (an eight percent decline).

Laptop sales were up 18 percent and sales of the iPod touch went up 55 percent.

“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO.

“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.”

According to Peter Oppenheimer, Apple’s CFO, Apple expects revenue in the range of about $11.0 billion to $11.4 billion and diluted earnings per share in the range of about $2.06 to $2.18 in Q2 2010.

More about: Apple , iPhone , iPod , iPod touch , Apple Store
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