Apple Earnings Q1 2010
Apple Earnings Q1 2010 – Profits for Apple rose nearly 90% in the second quarter of this year. The company was able to sell nearly 9 million iPhones, a figure that shocked many and topped estimates by analysts around the globe. This is partially because the iPhone has seen a large spike in demand in the international markets. The mobile device also continued to sell well in the United States. Shares of Apple jumped nearly 5% in after hours trading after shares of Apple closed down 1% the previous evening. Since the turn of the year, shares of Apple have jumped nearly 16% so far this year.
Sales for the iPhone were up nearly 130% during the last fiscal quarter from the same period last year. The company said that they were able to sell 8 and three quarters million iPhones during the course of the quarter. Analysts had previously predicted that the company would be able to sell just a little over 7 million iPhones during the second quarter of the fiscal year. Much of the recent iPhone success has been attributed to growth in international markets.
“If you look at Asia Pacific as an example, iPhone unit sales grew 474% year over year,” said Apple CEO Tim Cook.
“Basically, the iPhone stole the show,” Brian Marshall of Broadpoint AmTech Research stated. He went on to say that the mobile device has also shown “significant upside.” The company has released a very conservative earnings estimate for the upcoming quarter.
The company was also able to sell nearly 3 million Mac units in total. This brings their desktop sales up 40% for this same period last year. iPod’s sold 1% less than they did during the second quarter of last year, but drove in more revenue leaving some to believe that more interest was shown in the more expensive iPod Touch.