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Apple Financial Report for Q1 2010: All-Time Highest Revenue and Profits


By Graham K. Rogers



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Apple Corporation released its latest financial results, for Q1 2010, starting at 2pm Pacific Time (5 am Bangkok) on Tuesday 26 January and the following highlights were revealed.

  • Revenue for the quarter was $15.68 billion with a net profit of $3.38 billion compared with $11.88 billion revenue and $2.26 billion net profit for the same quarter last year, an increase of just under 50%. Significantly 58% of the revenue was from international sales giving Apple its all-time highest revenue and profit.

  • Sales of Macintosh computers reached 3.36 million in the period, which was an increase of one-third over the same period the previous year.

  • Sales of iPhones were 8.7 million which was 100% growth, while there was an 8% decine in the number of iPods sold to 21 million although iPod touch slaes grew 55%.

  • Apple now has cash reserves of $39.8 billion.


Peter Oppenheimer, CFO announced that $5.8 billion of cash had been generated during the quarter and predicted that the following quarter would show revenue of about $11 billion. Apple's revenue predictions, however, are always on the conservative side.

During the session, Oppenheimer also mentioned that the growth in desktop Macs had been 70% compared with the same period, while year over year sales showed an 18% growth in sales of portable computers. He mentioned certain countries during the presentation: Italy, France, Switzerland and Spain showed an increase of at least 40%; sales in Australia grew by 70%; China showed an increase of 100% in sales where as well as Mac sales some 200,000 iPhones were (officially) activated. Later he also referred to the Asia-Pacific region where sales of Macs grew by 54% and iPhones by 500% year over year. In education, sales of Macs increased by 16% in the period.

In a press release, Steve Jobs, Apple's CEO said, "If you analyse our quarterly revenue, itŐs surprising that Apple is now a $50+ billion company." In 2003, income was $5 billion annually and in the last 5 years sales of Macs have risen from just over 1 million quarterly to the current 3 million plus. Jobs added, "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." At the Conference call, Oppenheimer declined to comment on the new product, saying he did not want to spoil the surprise.




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