Apple reports Revenue Profits for Q1 2010

Apple reported its financial results for Q1 2010 which ended December 26, 2009 and the results were nothing short of impressive. Apple posted its all time highest quarterly revenue, its all time highest quarterly profit and when annualized, these numbers will push Apple into a $50+ billion per year company. Dollar figures that are so impressive they don’t require an explanation, so we will let the numbers speak for themselves:

Revenue of $15.68 billion ($11.88 billion in Q1 2009)

58% of revenue derived from international sales

Net quarterly profit of $3.38 billion or $3.67 per diluted share ($2.26 billion, or $2.50 per diluted share in Q1 2009)

Gross margin of 40.9 percent (37.9 % in Q1 2009)

$5.8 billion generated in cash

 

Sales of Macintosh computers and iPhones went through the roof in Q1 2010 with Apple selling 3.36 million computers and 8.7 million iPhones, representing a 33% unit increase for Macintosh sales and 100% unit growth for the iPhone when compared to Q1 2009. The only blotch on an otherwise stellar performance was the iPod which sold 21 million units in Q1 2010, an 8% unit drop from the same quarter last year. Estimates for Q2 2010 remain equally as optimistic with the Cupertino company expecting another quarter of impressive revenue that will top out at an expected $11.4 billion. And oh yeah, Steve Jobs said, “The new products we are planning to release this year are very strong.

official quote

“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO. “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.”

“We are very pleased to have generated $5.8 billion in cash during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2010, we expect revenue in the range of about $11.0 billion to $11.4 billion and we expect diluted earnings per share in the range of about $2.06 to $2.18.”

Apple will provide live streaming of its Q1 2010 financial results conference call utilizing QuickTime®, Apple’s standards-based technology for live and on-demand audio and video streaming. The live webcast will begin at 2:00 p.m. PST on January 25, 2010 at www.apple.com/quicktime/qtv/earningsq110/ and will also be available for replay for approximately two weeks thereafter.

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