Apple held its earnings call today, and reported stellar results for its third quarter. The company has seen an 82 percent increase in revenue compared to last year’s $15.7 billion: it generated $28.57 billion, a record breaking number that easily surpassed analysts’ average expectation of $24.92 billion. Apple’s profit was up 124 percent this quarter at $7.31 billion, compared to $3.25 billion last year or earnings per share of $7.79 and Wall Street’s forecast of $5.80 per share.
Apple accounted this tremendous growth mainly to its swelling presence in the mobile space, meaning increased sales for the iPad, iPhone and iPod Touch.
“In the first full quarter that the iPad 2 was on sale, Apple doubled its iPad shipments compared to the previous quarter, when it sold 4.6 million iPads. iPhone sales of 20.57 million units were also up sharply compared to both the previous quarter and the period a year ago.”
Apple sold 7.54 million iPods, or 20 percent less than last year’s 9.41 million. This decline, however, had been predicted long ago, and is due to the growing sales of the company’s other mobile products that is biting chunks off the device’s user base, especially as most functions of the iPod are now included in the iPhone and iPad.
In addition to a huge increase in mobile sales, Apple has also been seeing a steadily growing demand for Macs recently. Sales grew slightly from 3.47 million Macs last year to 3.95 million this quarter, another record for the company.
Apple had some more news today. On top of announcing outstanding earnings, the consumer electronics giant also revealed that it will be launching Mac OS X Lion tomorrow, confirming a rumor that had been milling all morning.
Apple SVP and CFO Peter Oppenheimer gave a very conseartive forecast for the next quarter; a mere $25 billion in the back-to-school period, when his company will launch the next generation iPhone, to assure Apple’s gains for the next quarter as well. The company’s shares are trading for $376.29 in after-hours trading.
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