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Apple rakes in the cash for fiscal Q1 2010

As if there weren't enough to look forward to from the folks at Cupertino this week, Apple today released its quarterly earnings after the closing bell and the results are no less than stellar. Results from fiscal Q1 2010 saw revenue shoot up to $15.6B while quarterly profits were $3.38B ($3.67 per share) -- these figures compared to $11.88B and $2.26B ($2.50 per share) respectively from fiscal Q1 2009. Gross margins were also up to 40.9 percent.

Apple CEO Steve Jobs was delighted to report the performance of his company and remarked that, “If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company.”

Apple sold 33 percent more Macs year-over-year during the quarter bringing the total to 3.36 million units. Apple also saw year-over-year iPhone sales double to 8.7 million units during the quarter -- the only sore spot was an eight percent year-over-year decline in iPod sales to 21 million units.

Jobs also alluded to the tablet which Apple is widely expected to announce during an event this Wednesday. “The new products we are planning to release this year are very strong, starting this week with a major new product that we’re really excited about.” added Jobs.

Apple's tablet is expected to feature a 10" screen, include the requisite multi-touch support, and provide news reading and multimedia-centric features. A recent report from Flurry Analytics also suggests that the device will be running a version of the iPhone OS (ver 3.2) instead of the more full-features desktop variant of OS X.

Another interesting thing to note is the large increase in iPhone sales compared to the previous year. Apple has been slowly lifting the single-carrier exclusivity deals around the world, which is giving more customers the ability to jump on the iPhone bandwagon. Apple is widely expected to drop its exclusivity deal with AT&T this year -- the possibility of an iPhone on Verizon or T-Mobile's network in the United States could mean another surge in iPhone sales during fiscal 2010 (and another surge in profits for Apple).





"Can anyone tell me what MobileMe is supposed to do?... So why the f*** doesn't it do that?" -- Steve Jobs
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