Apple Earnings Looking Great; Sells Lots of iPhones and Macs
Is there a recession? By looking at Apple’s earnings for the last 3 months you wouldn’t think so. The Company posted revenue of $9.87 billion and a net quarterly profit of $1.67 billion. That’s a lot of money! These results compare to revenue of $7.9 billion and net quarterly profit of $1.14 billion for the same period last year. A quick bit of maths shows that Apple’s earnings have gone up by nearly $2 billion. And this isn’t just in the USA. International sales accounted for 46 percent of the quarter’s revenue.
Apple sold 3.05 million Macintosh computers during the quarter (17% up from last year) and 7.4 million iPhones (7% up). That is a lot of equipment. If Apple performed like this for the next 9 months, it would mean it would sell nearly 30 million iPhones in one year. That is 82,000 iPhones a day or 3500 iPhones per hour… Can they make them that fast???
“We are thrilled to have sold more Macs and iPhones than in any previous quarter,” said Steve Jobs, Apple’s CEO. “We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.”
Thrilled, I should think so!!! “Go Apple Go”.
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The whole recession thing confuses me.