Earlier today, Apple released earnings for their first fiscal quarter in 2010 – posting revenue of $15.68 billion and a net profit of $3.38 billion. iPhone sales for the quarter doubled, and company-wide margins topped 40.9%
By way of comparison, during the same quarter a year-ago, Apple posted revenue of $11.88 billion and a net quarterly profit of $2.26 billion. In other words, Apple’s profits soared by nearly 50% on strong sales of 3.36 million Macs and 8.7 million iPhones. The iPhone figure in particular represents a staggering 100% increase from sales figures in the same quarter a year-ago. For the quarter, Apple posted earnings of $3.67 a share.
“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” Apple CEO Steve Jobs noted in a press release. “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.”
Expectations are high for the Apple Media Event scheduled for Wednesday in San Francisco. One thing for sure after this afternoon’s stunning financials – Apple has a solid plan – and do they deliver!
Apple’s stock [AAPL] has more than doubled in the past year.
Disclosure: This writer owns as much Apple stock as he can afford, and although many might classify me as an Apple fan-boy: the gloves come off with you play with my retirement.