Published on Telecoms Europe (http://www.telecomseurope.net)

Apple racks up another monster profit

By FM Monteverde
Created 21/07/2010 - 9:10am

Apple racks up another monster profit

Robert Clark  |   July 21, 2010
telecomseurope.net
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Apple may be taking a battering over the iPhone antenna, but it continues to mint huge piles of cash.
 
The company’s array of smart and sexy devices drove earnings 78% higher in the second quarter, beating Wall Street estimates.
 
It sold a record 3.47 million Macs in the quarter, up 33% from a year ago, 8.4 million iPhones – up 61% - and 3.27 million units of its new hit, the iPad.
 
“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said [1] CEO Steve Jobs.
 
The company announced net profit of $3.25 billion on record sales of $15.7 billion, 61% higher than the year-ago quarter.
 
Its gross margin of 39.1% was down slightly from the 40.9% a year ago, possibly as a result of the iPad, which has a lower margin than the Mac or the iPhone.
 
 
However, analysts said there was no sign that the iPad was cannibalizing computer sales [2], the New York Times reported.
 
CFO Tim Cook said in a conference call the antenna controversy [3] had not affected sales.
 
The company will give away free cases to iPhone owners to reduce the signal loss, caused when the iPhone 4 is gripped on the lower left hand side of the device.
 
Apple says it will defer about $175 million in revenue until the December quarter as a result of the issue.
Source: 
telecomseurope.net [4]
Robert Clark
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Source URL: http://www.telecomseurope.net/content/apple-racks-another-monster-profit

Links:
[1] http://www.apple.com/pr/library/2010/07/20results.html
[2] http://www.nytimes.com/2010/07/21/technology/21apple.html?ref=technology
[3] http://www.telecomseurope.net/content/engineer-warned-iphone-4-antenna-problems
[4] http://www.telecomseurope.net/telecomseurope.net
[5] http://www.digg.com/submit?url=&title=Apple racks up another monster profit &bodytext=Macs, iPads, iPhones power earnings surge
[6] http://www.telecomseurope.net/content/apple-racks-another-monster-profit#comment
[7] http://www.telecomseurope.net/print/10458
[8] http://www.telecomseurope.net/tag/apple
[9] http://www.telecomseurope.net/tag/earnings
[10] http://www.telecomseurope.net/tag/ipad
[11] http://www.telecomseurope.net/tag/iphone
[12] http://www.telecomseurope.net/tag/iphone 4
[13] http://www.telecomseurope.net/tag/mac