Apple: More revenue in one quarter than Google will do in a year

Apple: More revenue in one quarter than Google will do in a year

Summary: To put Apple's $20 billion in quarterly revenue into perspective, consider that Wall Street is expecting $19 billion in revenue from Microsoft in the seasonally strong December quarter while Google is expecting revenue of $21.6 billion for all of 2010.

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To put Apple's $20 billion in quarterly revenue into perspective, consider that Wall Street is expecting $19 billion in revenue from Microsoft in the seasonally strong December quarter while Google is expecting revenue of $21.6 billion for all of 2010. Now Apple is projecting fiscal first quarter sales of $23 billion.

For its fiscal fourth quarter, Apple reported net income of $4.31 billion, or $4.64 per share on record revenue of $20.34 billion. Wall Street was expecting earnings of $4.08 a share on revenue of $18.9 billion. (Statement, Techmeme) For the full year, the company reported $14.01 billion in net income, or $15.15 per share, on sales of $65.23 billion.

iPhone sales saw 91 percent unit growth over the same quarter a year ago, with 14.1 million sold. The company said it also sold 4.19 million iPads during the quarter, a number that some analysts say could have been stronger if not for some supply constraints.

Even Macs, which are due for a refresh and likely will the topic of a news event later this week, saw a 27 percent unit gain from a year ago, with 3.89 million sold. The company also sold 9.05 million iPods during the quarter, an 11 percent drop.

Gross margin was 36.9 percent compared to 41.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter’s revenue.

In a statement, Apple CEO Steve Jobs said:

We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings—both all-time records for Apple. iPhone sales of 14.1 million were up 91 percent year-over-year, handily beating the 12.1 million phones RIM sold in their most recent quarter. We still have a few surprises left for the remainder of this calendar year.

Looking ahead to its fiscal first quarter, the company said it expects earnings of $4.80 per share on sales of $23 billion. Wall Street was expecting earnings of $5.07 a share for the first quarter of fiscal 2011 on revenue of $22.4 billion.

The company hosted a conference call to discuss details. On it, Apple CEO Steve Jobs popped in to offer some prepared remarks and field some questions from Wall Street analysts.

Shares of Apple were up slightly, closing at $318.00. Shares were slipping in after-hours trading.

Topics: Banking, Apple, Enterprise Software, Google

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83 comments
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  • first post? has the headline stunned the Fandroids?

    Since the coming of android in 2007 when apple was SMALLER than Google, Apple has breezed past Google's market cap to a tune of 100 billion or so.

    As an Apple AND Google investor I've always wondered what happened to the 'android army' and 'Android is Mac vs PC all over again'
    Davewrite
    • Another way of putting it

      @Davewrite Apple is ripping off its customers!
      Uralbas
      • yeah, because Apple is FORCING people to buy it's products.

        @Uralbas Pull your head out. People pay what they want to pay, and companies charge what the market will support. Apple can get 36%+ margins because people will pay more for better designed, better marketed, better supported products. You can't rip off someone who choses to pay.
        matthew_maurice
      • RE: Apple: More revenue in one quarter than Google will do in a year

        @matthew_maurice<br> It is a ripoff EVEN if people are paying for it. Just because they are blind to see what they are really paying for, doesn't mean Apple and many others aren't ripping off people in this down economy.
        israeljamesbond
      • RE: Apple: More revenue in one quarter than Google will do in a year

        @Uralbas exactly.
        @matthew_maurice people are too dumb to realize what they are getting. Apple's clever marketing preys on people with no tech knowledge into buying their overpriced crap. And then techies who are trying to "fit in" with the dumb crowd go and buy Mac's aswell so they can try to be cool. And Steve jobs is just laughing all the way to the bank as he sells crap for twice the price.
        Their products are not better designed (maybe physical designs, but not technical), they are better marketed, but they are NOT better supported.
        Jimster480
      • RE: Apple: More revenue in one quarter than Google will do in a year

        @matthew_maurice

        So according to your logic, those lottery scams are not scams because people are willing to fork over their money to those scumbags.
        Yax_to_the_Max
      • RE: Apple: More revenue in one quarter than Google will do in a year

        @Uralbas : Ripping off? Maybe. More like brainwashed to buy the latest and greastest - no matter how crappy it may be.
        Gis Bun
      • No, Google just can't make on marketing

        @Uralbas...what Apple produces in a consumer good. After all Google just gives away the fruits of its labor and R&D in order to collect your usage habits.
        Snooki_smoosh_smoosh
    • RE: Apple: More revenue in one quarter than Google will do in a year

      @Davewrite Well maybe you are just so blinded by Steve jobs junk in your face that you cant see Android leapfrogging all the other mobile OS's. Because its now #2 in the world and it will overtake iOS in the US very soon. Apple is selling less and making alot more, it just means that their products are WAY OVERPRICED. Which they always have been. They sell trash for 2x the price of better products.
      Jimster480
      • Not based on the CEOs numbers

        @Jimster480

        Android is #3
        Bruizer
      • Very Interesting!

        @Jimster480 - Your fact that people will pay twice the price for Apple trash than for someone Else's product intrigues me - do you have data? Is this all trash (like the lunchroom) or is it limited to certain offices?
        Gr8Music
    • RE: Apple: More revenue in one quarter than Google will do in a year

      @Davewrite And how long has Google been in business compared to Apple?
      tmafuve@...
  • RE: Apple: More revenue in one quarter than Google will do in a year

    @cyberslammer You need to get out more.
    Bill Snebold
    • RE: Apple: More revenue in one quarter than Google will do in a year

      @Bill Snebold No, that was Loverock's typical ruse....

      He has never seen an iPad in the wild, so therefore the sales figures must be inaccurate.
      cyberslammer
    • RE: Apple: More revenue in one quarter than Google will do in a year

      @Bill Snebold No he doesn't. Loverock's reputation precedes him. Speaking of which, what exercise outside of that thing that makes babies have you seen in the last week? Point made.
      betelgeuse68
    • It's possible that he actually hasn't

      There were 8 million or so sold.... compare that to how many people there are in the world. Compare it to how many people buy computers, cellphones, or so forth. It's a huge number in terms of sales, but it's still highly likely that people might not have seen one "in the wild"
      Michael Alan Goff
  • RE: Apple: More revenue in one quarter than Google will do in a year

    @cyberslammer
    800,000 less iPads in the wild than the analysts expected. Hence the $20 drop in stock price in after hours trading.
    Stark_Industries
    • This is only supply problem; after 6mo, iPad isn't sold in the world mostly

      @Stark_Industries: the production will only reach appropriate level in the beginning of the following year.

      <b>For this calendar year, Apple could contract production of about only 13 million screens, of which about 7.5 million are already sold in second and third calendar quarters.</b>

      So sales for the current quarter will only reach about 5-6 million.
      DDERSSS
    • What supply problem?

      @denisrs
      There are plenty of iPads in Target and Best Buy. No shortage that I can see. Walmart, AT&T and Verizon are getting them soon too.

      I think there are lots of people waiting for the 2nd gen. You would be crazy to buy one for the holidays when the 2nd gen will get announced in January/February.

      I've been burnt a couple of times by Apple like that (iPhone, MacBook,) and I have learnt my lesson.

      The 2nd gen will likely have FaceTime and the Retina display, so I will wait for that.
      Stark_Industries
    • RE: Apple: More revenue in one quarter than Google will do in a year

      @Stark_Industries
      Facetime is a possibility.

      Retina display at that size would take a lot of video horsepower; that I don't expect.
      DannyO_0x98