Apple Has Most Profitable Quarter Ever
October 20th, 2009
Yesterday, Apple announced their quarterly earnings, reporting a $1.67 billion profit, their highest ever. Because of this rosy report, AAPL shares increased dramatically, to an all-time high. The shares reached $204, beyond the $202 high mark that occurred almost two years ago.
The fourth quarter (stretching to September 26, 2009), Apple stated a revenue of $9.87 billion, with their net profit of $1.67 billion. A year ago, these numbers were $7.9 billion and $1.14 billion, respectively, which shows a significant boost over the last 12 months.
Even in the face of global economic downturn, Apple sold 3.05 million Macs (up 17% from last year), 10.2 million iPods (8% decrease), and 7.4 million iPhones (7% increase). The decrease in iPod sales is very interesting, perhaps reflecting the growing popularity of the iPhone.
During the post-earnings discussion yesterday, Apple’s Chief Financial Officer Peter Oppenheimer stated that next quarters growth would be smaller, in part due to lower cost products. While no specific details were given, this means we can expect to see some cheaper Apple goods down the road.
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