Apple has announced its earnings for Q3 2010 (ending June 26th) and they’re obscenely vast, with the company posting revenue of $15.7 billion for the last quarter with earnings per diluted share coming in at an almighty $3.51 – up from $2.01/share in Q3 of last year.
International sales made up just over half (52%) of Apple’s quarterly revenue, while the company’s gross margin was 39.1% (compared to 40.9% from a year ago).
3.27m iPads sold
Apple shifted 3.47 million Mac computers (up 33% from Q3 of last year), a massive 8.4 million iPhones (up 61% Year-over-Year), 9.41 million iPods (down 8% YoY), with no less than 3.27 million iPads being high-fived out of Apple stores across the globe.
Purring like a cream-filled cat let loose in the St Ivel factory, Apple’s CFO, Peter Oppenheimer, chortled: “We’re really pleased to have generated over $4 billion of cash during the quarter. Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44.”
Here’s Apple’s full statement:
Apple Reports Third Quarter Results
All-Time Record Revenue
Earnings Increase 78 PercentCUPERTINO, California—July 20, 2010—Apple® today announced financial results for its fiscal 2010 third quarter ended June 26, 2010. The Company posted record revenue of $15.7 billion and net quarterly profit of $3.25 billion, or $3.51 per diluted share. These results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion, or $2.01 per diluted share, in the year-ago quarter. Gross margin was 39.1 percent compared to 40.9 percent in the year-ago quarter. International sales accounted for 52 percent of the quarter’s revenue.
Apple sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. The Company sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. The Company began selling iPads during the quarter, with total sales of 3.27 million.
“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Steve Jobs, Apple’s CEO. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”
“We’re really pleased to have generated over $4 billion of cash during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44”
Apple will provide live streaming of its Q3 2010 financial results conference call beginning at 2:00 p.m. PDT on July 20, 2010 at www.apple.com/quicktime/qtv/earningsq310/. This webcast will also be available for replay for approximately two weeks thereafter.
I’m not sure which is worse: the massive profits or the fact that Apple seem to be the greediest, most selfish tech company on the planet.
Bill Gates has given away billions of his Microsoft earnings, as has his co founder Paul Allen. So why doesn’t Apple give away some of their monstrous profits?