Apple Reports Massive Third Quarter Earnings

July 26th, 2010

On July 20th, Apple announced their earnings for the third quarter of fiscal 2010. Apple posted a record breaking revenue of $15.7 billion with a net profit of $3.25 billion. Apple sold 3.47 million Macs, 8.4 million iPhones, and 9.41 million iPods during the third quarter.
“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Steve Jobs, Apple’s CEO. People lined up for hours, and in some cases days just to get their hands on the new iPhone, and Apple reaped the benefits.

Despite having some serious technical issues with the iPhone 4, iPhone 4 sales were extremely strong. The iPhone 4 has been plagued by a lot of connectivity issues from day one, and just last week, Apple held a press conference to clear up some of the confusion. iPhone 4 users experiencing connectivity issues will be able to get a free bumper case from Apple that will help to keep the antenna from dropping signal.

Apple is extremely pleased with their third quarter earnings, and CFO Peter Oppenheimer was quoted as saying “We’re really pleased to have generated over $4 billion of cash during the quarter”.

Apple is expected to continue performing well over the course of the fourth quarter. iPhone sales remain strong despite technical issues, and the iPad has been off to a very strong start as well. More and more people are using Macs every day, and Apple’s market share in the PC space is expected to keep growing over the months to come.

Apple continues to add new and innovative products and services to their lineup, and as time goes on, it’s unlikely that they will lose momentum. The iPad has been adopted for business use by a lot of companies, and the iPhone 4is selling extremely well. Rumors have been circulating for some time now that they have another, smaller device the works, but as of this writing, they haven’t made any announcements. It will be interesting to see where Apple goes from here. Over the coming months, they’re expected to continue upgrading and enhancing their products, and it wouldn’t’ be a surprise to start seeing information about the second generation iPad over the next six months or so. With earnings this strong, the future looks bright for Apple and it’s products.

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5. Amazon Working On Devices Other Than The Kindle