Apple Q1 '10 financials - All-time highest revenue and profit

Today is the day that Apple's Q1 '10 financials are released, and the company has delivered an all-time highest revenue and profit.

Today is the day that Apple's Q1 '10 financials are released, and the company has delivered an all-time highest revenue and profit.

Here are the details:

  • Revenue of $15.68 billion (year-ago quarter $11.88 billion)
  • Net quarterly profit of $3.38 billion (year-ago quarter $2.26 billion)
  • 3.36 million Macs sold, representing a 33 percent unit increase over the year-ago quarter, representing 70% year on year growth in desktop sales (record Mac sales)
  • 8.7 million iPhones in the quarter, representing 100 percent unit growth over the year-ago quarter (record iPhone sales)
  • 21 million iPods during the quarter, representing an 8% unit decline from the year-ago quarter, first holiday quarter drop
  • iPod still top selling music player, and still gaining share internationally
  • iPod touch still managed 55% year on year growth
  • Gross margin was 40.9%, up from 37.9% in the year-ago quarter
  • International sales accounted for 58% of the quarter's revenue
  • Generated $5.8 billion in cash during the quarter, total cash $39.8 billion
  • Record quarter for iTunes store
  • Retail store sales increased 13% year on year
  • Around half of Macs sold are to first-time Mac owners
  • 70% of Fortune 500 companies deploying or piloting iPhone
  • Over 200,000 activated iPhones in China since beginning of November 09
  • Apple also chosen to adopt the Financial Accounting Standards Board's amended accounting standards, which will affect how the company accounts for certain products, in particular the iPhone and Apple TV - this has left analysts and pundits scrambling since no heads-up was given in advance (I'll let someone else explain that all to you!)

"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."

I wonder what this "major new product" is? Anyone want to take a guess.

"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."

During the cnference call, when asked a question about the benefits of AT&T, Tim Cook, COO, said that "AT&T is a great partner." Comments and thoughts on that one please!


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