Apple is All Sweet with Record Q3 Revenue
Apple has 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.
According to the company, it sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter. It sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter.
Moreover, the company sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter. It 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, says the company.
