Today Apple announced the results for the first quarter of fiscal year 2010, which ended in December. They earned $15.68 billion, a 40 percent increase since the previous year’s earnings of $11.88 billion dollars. International revenue accounted for 58 percent of the total gross income.
The top three grossing products included 3.36 millions Mac computers, 8.7 iphones and 21 million ipods during since last quarter. Although ipod sales were down 8 percent they still managed to murder the market with a 100 percent increase in iphone sales.
Apple attributes its success rate partly to the Financial Accounting Standards Board’s amended accounting standards related to certain revenue recognition. The new accounting standards significantly changes how the Company accounts for items, particularly iPhones and Apple TV.
“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO. “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.”
“We are very pleased to have generated $5.8 billion in cash during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2010, we expect revenue in the range of about $11.0 billion to $11.4 billion and we expect diluted earnings per share in the range of about $2.06 to $2.18.”
Apple provided live streaming of its Q1 2010 results in a conference call utilizing QuickTime, The live webcast will begin at 2:00 p.m. PST on January 25, 2010 at www.apple.com/quicktime/qtv/earningsq110/ and will also be available for replay in approximately two weeks.