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Apple continues to gain momentum on the back of strong Mac, iPhone sales

2010 has seen the introduction of several new or revamped products for Apple. We've seen new MacBook Pros, new MacBooks, the introduction of the iPad, a redesigned Mac mini, and of course the new iPhone 4.

Of those aforementioned products, the Mac mini and iPhone 4 were the only ones to be released since Apple's blowout Q2 2010 results. The Mac mini got flak for its $100 price increase while we the controversy surrounding the iPhone 4 is legendary.

Despite these bumps in the road since April 20, Apple's financial might is still fully on display. The company announced today that revenue for the third quarter came in at a record $15.7 billion while quarterly profit was a healthy $3.25 billion. Those numbers compare to $9.73 billion and $1.83 billion respectively from the same period one year ago. Earnings per share came in at $3.51.

Apple sold 3.47 million Macs during the quarter (33 percent increase from a year ago), 3.27 million iPads, and 8.4 million iPhones (61 percent unit growth compared to a year ago). The only downside was the company's iPod unit which saw sales drop eight percent year-over-year to a still impressive 9.41 million units for Q3.

Apple shares are up 3.5 percent in after hours trading.

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 Apple CEO Steve Jobs “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

Apple didn't give any guidance to how much “Antennagate” will cost – the company announced last last week that it would provide free cases to customers who purchased iPhone 4s and will refund the $30 purchase price of bumpers that have already been bought direct from Apple. Apple's free case/case reimbursement program will begin later this week and will last until September 30.



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money
By Samus on 7/20/2010 4:53:43 PM , Rating: -1
if i were apple i'd keep the huge profits on the downlow due to pending class action lawsuits for iphone 4 defects...don't want people knowing how much they can attack you for.




RE: money
By MADAOO7 on 7/20/2010 5:06:48 PM , Rating: 5
It's a publicly traded company, profits have to be made public to shareholders, investors, etc.


"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA














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