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Apple results: First look

Cupertino beats some, but not all of the analyst predictions for its fiscal 2010 first quarter. The company announced revenue of $15.68 billion and a net quarterly profit of $3.38.
Written by David Morgenstern, Contributor on

Cupertino beats some, but not all of the analyst predictions for its fiscal 2010 first quarter. The company announced revenue of $15.68 billion and a net quarterly profit of $3.38.

For a first look at the results, check out Sam Diaz's report on Between the Lines.

For a better understanding of how the company fared during the quarter, consider how the company did on key product sales. It sold 3.36 million Mac computers, a 33 percent jump over the year-ago quarter. It reported sales of 8.7 million iPhones, or 100 percent unit growth over a year ago. But iPods sales, which came in at 21 million during the quarter, actually represented an eight percent decline from a year ago.

Apple beat the analyst consensus for non-GAAP earnings of $14.93 billion.

In a statement, Jobs said he was surprised that Apple may now be a $50 billion company. Who is he kidding?

“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.”

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