Apple Reveals Q3 Revenue; Still Swimming in $$$
Apple yesterday posted quarterly financial results for its fiscal third quarter ending June 26. The Cupertino-based company posted record revenue of $15.7 billion and a net quarterly profit of $3.25 billion or $3.51 per diluted share.
Apple has had two major product launches this year and the dough is rolling in. Cementing the company's claims that the iPad has been nothing short of a 'magical' money making machine is the revelation that the company sold nearly as many iPads as Macs. Apple shifted 3.47 million Macs during the quarter (a 33 percent unit increase compared to the same period last year) and managed to sell 3.27 million iPads in the first few months of launch.
Macs and iPads aside, Steve and the gang sold 8.4 million iPhones, (up 61 percent compared to the same period last year), and experienced a slight dip in iPod sales. The company sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter.
Apple CFO Peter Oppenheimer said the company is "really pleased" to have generated over $4 billon in cash during the quarter and added that they expect Q4 to be even better with revenue of about $18 billion and diluted earnings per share of about $3.44.
As you can imagine, Steve Jobs is also extremely happy with the last few months, He took the opportunity to talk up the iPhone 4, and hinted that he has more "amazing new products" up his sleeve for launch this year.
"It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4," Job said in a statement. "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."
During a Q&A yesterday afternoon, Apple revealed it will be setting aside $175 million in revenue to cover the free iPhone 4 cases it's giving out to alleviate antenna issues some users are having.
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Jane McEntegart is a writer, editor, and marketing communications professional with 17 years of experience in the technology industry. She has written about a wide range of technology topics, including smartphones, tablets, and game consoles. Her articles have been published in Tom's Guide, Tom's Hardware, MobileSyrup, and Edge Up.
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cashews Apple henchman: Steve sir, we have made record profits again this quarter, shall I recall the Iphone 4 and fix the reception issue.Reply
Steve: No you idiot! I am not going to spend any money just because people can't hold a phone properly. ** Presses button to open trapdoor beneath hanchman's feet **
Applhe Henchman: (Being incinerated in furnace arrrrrrrgggghhhhhh. -
polly the parrot Good for shareholders I guess.Reply
Edit: Cashews, you said it wrong. An associate comes to collect the henchman for his 'party'. Yes there will be cake :D -
matt87_50 urbninjaThe market has spoken. Apple is the best tech company in the world!Reply
"the market has spoken, Lady Gaga is the best musician in the word."
define: best .....
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chickenhoagie urbninjaThe market has spoken. Apple is the best tech company in the world!no..they are the best marketing company in the world. tech company? not quite. they just sell "tech" equipment.Reply -
killerclick That's it, the market has spoken, I'm switching over to Mac. Better do it now than to be the last one using Windows.Reply -
arael Here was me thinking "Finally, an apple free news day!".Reply
The sky is blue, the Earth still rotates, idiots continue to spend money on overpriced products. What's new. -
ares1214 anybody who switches to mac because of this proves their lack of knowledge, and therefore deserves to be with the mac lovers. although it seems everybody is posting record profits this year, so much for a recession.Reply -
xantek24 blast!!! you may have won the battle jobs, but you have not defeated my android army....Reply