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iPhone News Desk Apple Hits the Cover Off the Ball
Revenues were $15.7 billion, up 61% year-over-year, a billion dollars ahead of expectations
By: Maureen O'Gara
Jul. 21, 2010 07:30 AM
Apple posted its best quarter ever Tuesday Antennagate notwithstanding. Revenues were $15.7 billion, up 61% year-over-year, a billion dollars ahead of expectations, and 52% from international sales. Earnings were up 78% to $3.25 billion, or $3.51 a share versus expectations of $3.12.
It sold 3.27 million iPads in the quarter ended June 26 having got to market in April. It sold 8.4 million iPhones, up 61%. Most of them were iPhone 3Gs since the problematic iPhone 4 only went on sale June 24. Figure 1.7 million iPhone 4s. It sold 9.41 million iPods, down an unsurprising 8%, although the iPod touch was up 48%. And it sold 3.47 million Macs, a new quarterly record, up 33%, and half of the 677k boxes sold in Apple retail stores went to users new to Apple. iTune sales were up 25%. There are 225,000 apps available, 11,000 for the iPad. Five billion of the things have been downloaded. Apple called the results “phenomenal, exceeding its own expectations, and it promised “amazing new products still to come this year.” It generated $4.1 billion during the quarter to bring its cash hoard to $45.8 billion and as a topper it did something really usual and guided higher than Wall Street’s projections. It said it would do about $18 billion this quarter and earn about $3.44. Famous for its conservative projections, followers only expected $3.11 a share on revenues of $14.75 billion. Apple swore that it has seen no drop in iPhone demand because of the Antennagate reception issue and claimed that it’s making iPhones and iPads as fast as it can to meet demand. It will take a $175 million charge in the December quarter to cover the free cases it promised last Friday to resolve the antenna crisis. It also said that upwards of 80% of the Fortune 100 are deploying or piloting the iPhone and that 50% of the Fortune 100 are using or testing the iPad. The iPad’s ASP was ~$640. Reader Feedback: Page 1 of 1
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