Apple Reports Record Revenues and Profit for Q3
Article by George Norman
On 21 Jul 2010
Cupertino-based software developer Apple recently made public its financial results for Q3, the third fiscal quarter of 2010 which ended on the 26th of June. In Q3 Apple did even better than in Q2; as the company explained, this was a quarter of record revenues and net quarterly profit. Here are some figures to put things in perspective:

Total revenues for Q3 - $15.7 billion
Net quarterly profit for Q3 - $3.25 billion
or $3.51 per diluted share


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That is a considerable increase compared to the last year’s Q3. Back in 2009 Apple reported revenues of $9.73 billion and a net quarterly profit of $1.83 billion or $2.01 per diluted share. It is an increase compared to Q2 2010 as well. In this year’s Q2 Apple reported revenues of $13.5 billion and a net quarterly profit of $3.07 billion or $3.33 per diluted share.

How much stuff did Apple sell during its fiscal third quarter? The company sold 3.47 million Mac computers, 8.4 million iPhones, 9.41 million iPods, and 3.27 million iPads. It must be mentioned that Apple started to sell the iPad in Q3 and it sold like hotcakes – 1 million 28 days after the device’ release to the market, 2 million 59 days later, and 3 million 80 days later.

“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,” commented Apple CEO Steve Jobs.

“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,” commented Apple CFO Peter Oppenheimer.



Tags: Apple, Q3, Revenues, Profit, Money
About the author: George Norman
George is a news editor.
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