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Anonymous
Apple posts record Q3 revenue, defers some iPhone revenue until December
Apple held its Q3 2010 earnings call this afternoon, announcing its best quarter ever, even when compared to previous holiday quarters. Net income was up 78%, with revenues of $15.3 Billion compared to $9.73 Billion from the same quarter last year, with net quarterly profit of $3.25 Billion or $3.51 per diluted share.
The company reports it has sold 3.47 million Macs during the Q3 period, mostly to consumers and education partners, along with 8.4 million iPhones, 9.41 million iPods, and 3.27 million iPads.
That iPad sales figure is particularly interesting, because in the near future Apple will probably be selling more iPads than Macs per quarter, however the company does not see this as cannibalization but rather a synergy, iPad owners may end up also buying Macs just like iPod owners have done in the past.
Apple is still reporting iPod Touch sales totals by lumping them in with sales of older iPod models, a number which has declined 8% compared to this same quarter last year, however they did note that iPod Touch sales are up 48%.
Jobs, who was present for the call, said the iPhone 4 was their most successful product launch ever. However, due to the recent antenna issues with the new phone, the company expects to defer about $175 million in iPhone 4 revenue until the December quarter, in order to account for the free cases that customers may request. They are doing this in order to include the cost of the Bumpers in the revenue recorded for each phone.
The company did say that they can’t make iPhones and iPads fast enough to meet the demand, however they expect manufacturing to catch up in the coming months.
During the Q&A portion of the call, Tim Cook was asked about corporate adoption of the iPad, saying that 50% of Fortune 100 companies are deploying or testing the iPad.
Cook was also asked about the “North Carolina datacenter”, to which he responded “North Carolina is on schedule”, and the company expects it to be completed by the end of the calendar year.
For those of you who wish to read the press release, it is available here.