Apple Announce Record Profits

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Despite the spate of bad press Apple have received recently, the Cupertino California company have announced record Q3 2010 Results.

Apple posted revenue of $15.7 billion with a net quarterly profit of $3.25 billion, equating to earnings per diluted share of a phenomenal $3.51.  This amounts to a dramatic increase in revenue compared to $9.73 billion with net quarterly profit of $1.83 billion ($2.01 per diluted share) in Q3 last year.

The company’s gross margin was 39.1% compared with 40.9% last year with international sales accounting for 52% of the posted quarterly revenue.

The strongest performing products were iPhones with a 61% unit growth over last year.  Apple also sold 3.47 million Macs (33% increase year on year), 9.41 million iPods (8% decline YOY) and 3.27 million iPads.

“We’re really pleased to have generated over $4 billion of cash during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44”

[Image: John Biehler]


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