Apple posts Q2 revenue of $13.5 billion, profit of $3.07 billion

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Date: Tuesday, April 20th, 2010, 15:06
Category: Finance, News

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Delivering its second quarter financial results on Tuesday, Apple announced that the company sold 10.89 million iPods during the quarter (compared to sales of 11.01 million iPods in the year-ago quarter, and down 48% from the previous quarter) and 8.75 million iPhones in the quarter (a 131% increase year-over-year, and up from 8.7 million units in the prior quarter).

Per iLounge, Apple posted revenue of US$13.5 billion and net quarterly profit of US$3.07 billion, or US$3.33 per diluted share, compared with revenue of US$9.08 billion and net quarterly profit of US$1.62 billion, or US$1.79 per diluted share in Q2 2009.

International sales accounted for 58% of the quarter’s revenue and sales of Other Music Related Products + Services were up 27% from the year-ago quarter, and 14% from Q1 2010, to US$1.3 billion total.

Notably, the numbers from Q2 2009 are different from those originally reported due to Apple’s change in accounting rules that sees the company now recognize “substantially all of the revenue and product costs from the sales of iPhone and Apple TV at the time of sale,” instead of accounting for the sales over a 24-month period.

“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49% and profits up 90%,” said Steve Jobs, Apple’s CEO. “We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year.”

“Looking ahead to the third fiscal quarter of 2010, we expect revenue in the range of about US$13.0 billion to $13.4 billion and we expect diluted earnings per share in the range of about US$2.28 to US$2.39,” said Peter Oppenheimer, Apple’s CFO.

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