Apple announces record Q3 2010 revenue; earnings up 78 percent

Apple announces record Q3 2010 revenue; earnings up 78 percent

Summary: iPhone debacle? What iPhone debacle? Apple proved again today that it's virtually impervious to the effects of sometimes flaky products, or even the financial markets as a whole.

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TOPICS: Banking, Apple
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Q3 - 2010iPhone debacle? What iPhone debacle? Apple proved again today that it's the teflon don of technology companies and virtually impervious to the effects of sometimes flaky products, or even the financial markets as a whole.

Apple today announced its financial results for the third fiscal quarter of 2010 and they're outstanding. Q3 was another record quarter for the company, with revenue hitting an all-time high and earnings up a whopping 78 percent.

Some of the highlights:

  • Record revenue of $15.7 billion (compared to $9.73 billion in the year-ago quarter)
  • Net quarterly profit of $3.25 billion, or $3.51 per diluted share (versus $1.83 billion/$2.01)
  • Gross margin was 39.1 percent (40.9 percent)
  • International sales accounted for 52 percent of revenue.
  • Sold 3.47 million Macs during the quarter (new quarterly record and a 33 percent unit increase over the year-ago quarter.
  • Sold 8.4 million iPhones in the quarter (61 percent unit growth)
  • Apple sold 9.41 million iPods during the quarter (an eight percent unit decline)
  • 3.27 million iPads sold

Can anything stop AAPL?

Topics: Banking, Apple

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29 comments
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  • It's really NEXT quarter that matters

    These numbers are superb, so back-to-school will have to be as good if not better to keep the naysayers from saying "see, antennagate is getting them!" That being said, if Apple's Q4 estimates are as conservative as usual, the results will be excellent.

    On another note, depending on what Microsoft reports later this week, Apple could for the first time have surpassed MSFT in [b]revenue[/b] as well as market capitalization. If that's the case, it would be a huge deal.
    matthew_maurice
    • "Can anything stop AAPL?"

      How about a Greater than 1930's depression that we are having right now? Don't kid yourself. When people are not getting jobs, they are not going to buy a lot iWhatNot. It might not be now, but it will be there.
      LBiege
      • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

        @LBiege You do know that started two years ago, right?
        I12BPhil
      • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

        @LBiege: Ummmm in the US we are just a touch above 10% unemployment. So 90% of the public (Not including kids) have income and can buy anything they like. And the 10% that are not working are getting unemployment benefits (A lot of them) and may still be able to buy iToys. LOL!
        tymiles
      • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

        @tymiles <b>Ummmm in the US we are just a touch above 10% unemployment. </b><br><br>Don't read too much into that figure - there are people who are still unemployed but have run out of unemployment benefits which means they are no longer counted as being unemployed. So more accurately the touch above 10% figure is those who are still receiving unemployment benefits. <b><br><br>So 90% of the public (Not including kids) have income and can buy anything they like. And the 10% that are not working are getting unemployment benefits (A lot of them) and may still be able to buy iToys. LOL! </b><br><br>Again not entirely accurate... unemployment benefits are just shy either way of minimum wage - and that's IF one qualifies for the maximum unemployment amount... And people in that position aren't to concerned about buying the latest anything tech related... I know this from personal experience.
        athynz
      • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

        These figures aren't US-specific -- Apple's international sales are really picking up, and contributing a fair percentage to the coffers.
        sip01
      • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

        @tymiles

        Unemployment benefits here in New York max at about $405/wk. This is taxable income, so it works out to less than that in reality. For a married couple with one child, this puts them below the poverty line. I think they'd have more to think about than buying electronic devices.
        msalzberg
      • Ruined your day, did it?

        @LBiege Nobody wants Apple's products. Nobody wants Apple's products. Just keep saying it LBiege?if it makes you feel better.
        godsfault
    • Let's Sing Along

      http://www.zdnet.com/blog/btl/apples-cook-selling-every-iphone-4-we-can-make-despite-antenna-flap/36982
      yobtaf
  • Headline needs to be amended to keep in line with

    the current Apple reporting meme:

    Apple announces record Q3 2010 revenue; earnings up 78 percent, dammit.
    frgough
  • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

    This is a good news to ifunia, a third-party software company who live on apple, accurately apple's products and...their closed paltform?
    Robert penn
  • Jobs must be Laughing all the way to the Bank

    Apple could slap their logo on a beat up, stinky garbage can and tell people it is the latest, magical device for storing garbage - and there are a million+ morons who would pay $500.00 to own one. SteveO must be laughing.
    jpr75_z
    • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

      @jpr75_z Good for you. You are superior!
      qcboys
    • Yep

      @jpr75_z Thats so true. Anything apple releases all the fanboys go out and buy, regardless of the price.
      Jimster480
      • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

        @Jimster480 - Gee, apparently there are enough Apple fanboies to support the company. What's your point? That there are not enough MS fanbois? MS stock is still at a level from over 10 years ago. Reads like a failure to me! MS BIG FAIL!
        The Danger is Microsoft
      • And No Matter What's Inside & Even if the Garbage Stinks, They'll Buy It!

        @Jimster480 Yeah... if Steve iHitler Jobs was a dictator of a large corporation or the some Messianic religious leader (like in JonesTown) and ordered everyone to Drink the Koolaide, they'd all line up to do it. ahaha.. Pretty freaky when one person can exhibit that much control over the minds of their true believers. But at some point all iFads, iCults cease to have that effect and the Emperor's New Clothes Disapear! .... or the curtain gets torn down by a Toto. Then Dorothy's of the World will realize that they only needed to click their heels, to get back to Kansas again, to face reality. That the Wizard really wasn't a Wizard after all! ....just a snake in the grass!!!
        Monarky
      • Gee, according to the windoze fanbuis...

        ...antennagate should've caused a nosedive on this.<br><br>What? Don't tell me they were wrong!<br><br> ;)
        ahh so
    • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

      @jpr75_z Don't be silly. Why would Apple make something specifically for storing Microsoft products? Besides, people don't throw that stuff away. 300 million+ morons have been told its the cheap garbage copied from other people's ideas they should use and they believe it.
      I12BPhil
    • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

      @jpr75_z How's the weather on your planet?
      jpdemers@...
    • RE: Apple announces record Q3 2010 revenue; earnings up 78 percent

      @jpr75_z No different then Google or Microsoft. We been buying MS's crap for 30 years and counting. Security flaws bad designs, bugs and all.
      tymiles