Apple's profit rose by 50% in the first quarter of the fiscal year with Mac and iPhone sales shooting up worldwide, according to its report released yesterday. The company sold twice as many iPhones as it did during the same time period in fiscal 2009, and a third more Macs - with the leader being the extremely popular - if maligned - new 27-inch iMac.
Apple figures its "fiscal year" 2010 starting on September 27, 2009. Its profit for the quarter ending on December 26 increased to $3.38 billion, compared to $2.26 billion for the same period a year ago, and blowing away Wall Street's guess of $2.07 billion in profit. Apple's revenue - all the money it took in - rose to $15.68 billion from $11.88 billion and gross margin rose to 40.9% from 37.9%. Apple's "gross margin:" the difference between the amount of its sales and its production costs, is one of the highest in the industry, and why the company is sitting on an enormous pile of cash right now.
Steve Jobs is understandably even more excited this week than he usually is.
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.
Apple sold 8.7 million iPhones, twice as many as the same period last year, and 3.36 million Macs, a boost of 33% and more than 300,000 machines more than the previous best quarter. During a conference call with analysts, Apple Chief Operating Officer Tim Cook said customers are “thrilled” with the new iMacs and Chief Financial Officer Peter Oppenheimer said Apple was "extremely proud of this result and believe our Mac hardware and software are providing outstanding software and innovation that our customers really love.
Sales outside the US made up 58% of Apple's total, with sales in Italy, France, Switzerland and Spain up 40% or more, Australia going up 70% and China increasing 100%, Cook said. In the Asia-Pacific region in general, Mac sales increased by 54%.
iPhone sales were also up outside the U.S. In Japan, sales rose 400% year over year and 500% in the Asia-Pacific region.
image via core-studios.com