Updated (5:25 p.m.): Buoyed by holiday spending, the company's revenue hit a sky high $46 billion and net income of $13.1 billion. This amounts to about $133 million of profit per day during the 14 week-long quarter. That first number number easily exceeds the expected $39 billion in revenue, as did sales figures on every major Apple gadget except the iPod. Accounting for over 50 percent of its total revenue, it's quite clear that the iPhone is Apple's strongest product right now. The total sales figures (and year-over-year change) in handy bullet-point format:
- iPhone: 37.04 million (128 percent increase)
- iPad: 15.4 million sold (111 percent increase)
- Macs: 5.2 million sold (26 percent increase)
- iPods: 15.4 million sold (21 percent decline)
As stocks responded favorably in after hours trading, the glowing report helped push Apple's market cap up to about $426 billion. On the earnings call after the earnings release, Apple revealed that its cash on-hand rose to $97.7 billion, a solid $16 billion more than the $81.6 billion they had last quarter. $64 billion of that cash is off-shore.
Obviously, Apple CEO Tim Cook is happy about all this. "We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs," said Tim Cook, Apple’s CEO. "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline." Perhaps an iPad 3? Or an Apple TV machine?
This article is from the archive of our partner The Wire.