78% Third Quarter Revenue Boost for Apple

Post by Alister | July 29, 2010 | Apple, Apple Computers, Apple Mac Computers, News | Comment

Apple Australia has reported a massive 78% rise in global profits for the Macintosh empire, thanks to the release of the iPhone 4 and the innovative iPad. These cutting edge products have seen Apple achieve a new third quarterly record for Mac sales, with a staggering 8.4 million iPhones sold during this period alone! This increase of 61% compared to last year’s third quarter is one of the most significant reasons in the huge hike in profits, plus with the iPad’s release, it’s easy to see why Apple figures are going through the roof.

Apple’s chief executive, Steve Jobs, said -

It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4. iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.

Revenue was reported as $15.7 billion up to 26th June 2010, a rise of some $5.97 billion compared to the $9.73 billion for the same period 12 months ago. With the company also reaching a new quarterly record for Mac sales, it’s easy to see how Apple’s quarterly net profit was also up to $3.25 billion compared to last year’s$1.83 billion.

Apple’s chief financial officer, Peter Oppenheimer, said -

We’re really pleased to have generated over $4 billion of cash during the quarter. 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.