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Apple holds third quarter results call, reports record profits

Sections: Apple Business, Apple News

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apple third quarter profit
Apple has announced their financial results for the third fiscal quarter of 2010. With the launch of the iPad and iPhone 4, Apple posted record numbers, with $15.7 billion in revenue and a net quarterly profit of $3.25 billion. One year ago, in the same quarter, Apple posted $9.73 billion in revenue and $1.83 billion in profit.

The financial success of the Cupertino giant is substantiated by the amount of product sold in the quarter. The numbers are also indicative of the paradigm shift that Apple is creating with its iOS devices. Apple sold 3.47 million Macs (though it should be said that this is 33% higher than the same fiscal quarter last year) in comparison to 3.27 million iPads. In addition, the company sold 8.4 billion iPhones compared to 9.4 billion iPods. The old savior of Apple, the Mac, and the product that brought the company to relevance again, the iPod, are certainly not dying out, but a shift to the iOS, in the form of the iPhone and iPad, is evident.

During the third quarter, 100 million iOS devices were sold. This, perhaps moreso than the number of App Store apps, demonstrates the relevance of the platform. Apple is struggling to keep up with demand for both the iPhone 4 and iPad, as COO Tim Cook said, “selling every unit that [they] make.” Finally, Apple’s decision to give every iPhone 4 owner a free Bumper case will be a relatively costly one, the loss being around $175 million.

It seems Apple, despite all the recent negative press about the iPhone 4, continues to utterly dominate, posting record highs in profit and units sold. Apple, surprisingly, sees itself posting $18 billion in revenue for the current quarter. Looks like we’re in for some exciting new developments, so be sure to stay tuned.

Press Release [Apple]

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