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iPhone Rings-in Record Earnings for Apple !


How often have we discussed the path breaking products under the umbrella of Apple offerings on this site? Now, let’s have a peep into the record setting earnings performance from this giant company.

A record sales driven by iPhones has skyrocketed the earnings performance of Apple Inc. in the March quarter. iPhone sales standing at 8.75 million units has surged a whooping 131% jump year-over-year.

Apple Inc. on Tuesday announced its results for the fiscal quarter ending March 2010, with $13.5 billion of revenues as against $9.08 billion, a whooping 49% rise from the March quarter of previous year.

Apple Earnings

However, this Steven Jobs led company surprised one and all by posting a whooping 90% surge in its net profits from $1.62 billion in the same quarter during the previous year to $3.07 billion for the quarter ending March 2010.

Interestingly, sales of iPhone have leaped nearly six fold in the Asian markets while almost doubled in Japanese markets. (although it has been a major failure in India)

While the sale of Macs notched a smart 33% growth over the year ago period, the sale of iconic iPod were down by 1% for the same period under consideration. However, iPod Touch sales were up 63% year-over-year.

The earnings performance of the company has managed to out-perform the street’s expectations which got reflected in a smart 8.3% rally to $265 (in after-hours trading) on Nasdaq Stock Market.

The company also highlighted the iTune Store, which brought in revenues of $1.1 billion from sale of music, video and apps. The number of apps in the app store has reached 185,000.

Steve Jobs has also hinted to the investors that Apple has several more extraordinary products up its sleeve. According to a report on Bloomberg, analysts are speculating that the new products may include overhauled version of Apple TV, which would let users share media on other devices such as iPhone, iPads and iPods.

Apple is also expected to release a new version of iPhone sometime during this year. In a finding in what could be a likely next new Apple’s launch, a prototype of new iPhone which was disguised as the current iPhone 3GS model but with a front-facing camera, Micro-SIM instead of standard SIM, improved display and metallic rim.

An ecstatic aspect about Apple Inc. March quarter results is that it does not include the numbers from the recent mega-launch of revolutionary iPad which went on sale from April 3, 2010, just after the close of the quarter.

With iPad launch, what’s up for Next quarter Results, Any Guesses?

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