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Apple, Inc. has record quarter profits

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Tuesday, January 26, 2010

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Apple Inc. has announced that, in the fiscal quarter that ended on December 31, its profits increased by 50% from a year earlier, the highest ever recorded for the company.

The profits were equal to US$3.4 billion, or $3.67 per share. Analysts polled by the Thomson Reuters, however, forecast earnings of $2.08 a share.

Apple sales, meanwhile, increased by 32% to a record $15.7 billion from $11.9 billion the year before, above the $12.1 billion predicted by economists. This is the second consecutive quarter in which Apple has made record revenue. According to PC Magazine, of the revenue, $5.8 billion was in cash.

For this quarter, Apple has forecast its revenue to be somewhere between $11 billion and $11.4 billion, or earnings of $2.06 to $2.18 per share.

Before the results were announced, Apple shares rose $5.33, or 2.7%, to close at $203.08 at the New York stock market, whilst in extended trading the shares went up an additional $1.28, reaching $204.36.

Steve Jobs, the Apple CEO, commented in a statement that "if you annualize our quarterly revenue, it's surprising that Apple is now a $50+ billion company. The new products we are planning to release this year are very strong, starting this week with a major new product that we're really excited about."

Daniel Ernst, with Hudson Square Research, remarked that "it was a very good quarter, as expected. It's a continued sign that Apple has great products that consumers want despite this recession. Mac sales were phenomenal as well [...] Macs continue to gain share and what's interesting is that it only has 3.6% share globally so there's a lot of headroom."


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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.


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