Apple Q2 2010: Another Quarter, Another Record

Only Apple could make success seem banal, reporting the best ever earnings for a second fiscal quarter today.

Apple reported revenue of $13.50 billion and a net quarterly profit of $3.07 billion, or $3.33 EPS, once again beating the Wall Street consensus, and comparing quite favorably to $9.08 billion and a net quarterly profit of $1.62 billion, or $1.79 EPS, a year ago. It was indeed another boringly great quarter, but if Steve Jobs is yawning with success, he didn’t show it in the press release.

“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent,” said Steve Jobs, Apple’s CEO. “We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year.”

For those with less interest in profit and more in the magical product pipeline, Macs were solid, iPods flat, and iPhone sales bucked the cyclical decline.

Apple sold 2.943 million Macs, up 33 percent from 2.216 for the same quarter last year. While laptop sales were up 28 percent from a year ago, desktop sales jumped 40 percent. That doesn’t alter the 60/40 split between laptops and desktops, but it was still a good quarter for the iMac.

It was a good quarter for iPod sales, too, despite them being flat, at 10.89 million sold versus 11.01 million last year. While that’s technically a one percent decline in units sales, revenue was up 12 percent, likely fueled by the increasing success of the iPod touch. That’s very good news.

Also very good were iPhone sales, which tend to be cyclical, peaking with model launches and declining until the next launch. For last quarter, Apple sold 8.752 million Phones, compared to 3.793 during the same period last year, a 131 percent increase. However, Apple actually increased the number of iPhones sold from the first quarter of 2010, which saw 8.737 million sold. That’s big news as we approach the next iPhone launch, expected this summer.

While nothing was mentioned about the iPad, expect that to come up in the conference call, which will duly be reported on TheAppleBlog.

 

http://theappleblog.com/2010/04/20/apple-q2-2010-another-quarter-another-record/