Home Apple Announces Second-Quarter Earnings

Apple Announces Second-Quarter Earnings

Apple announced second-quarter revenue of $13.50 billion today for the quarter ended March 27, 2010. Net quarterly profit was $3.07 billion, or $3.33 per diluted share. Q2 2009 showed revenue of $9.08 billion and net quarterly profit of $1.62 billion, or $1.79 per diluted share. International sales accounted for 58 percent of the quarter’s revenue.

2.94 million Macs were sold, a 33% increase, along with 8.75 million iPhones and 10.89 million iPods.

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

Apple CEO Steve Jobs stated it was the company’s “best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent.”

Apple has a reputation on Wall Street for estimating low on its upcoming revenue, which has an influence on analyst expectations. Apple currently anticipates a gross margin of 36 percent, a significant decline.

Apple beat analyst expectations this quarter.

Although attention on the iPad was enormous, and sales were good, insufficient time has passed to tell what effect that new product will have on earnings. It will need to sell a great many to be a contender against any of its other products.

Bottom photo by Sonny Hung

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Get the biggest tech headlines of the day delivered to your inbox

    By signing up, you agree to our Terms and Privacy Policy. Unsubscribe anytime.

    Tech News

    Explore the latest in tech with our Tech News. We cut through the noise for concise, relevant updates, keeping you informed about the rapidly evolving tech landscape with curated content that separates signal from noise.

    In-Depth Tech Stories

    Explore tech impact in In-Depth Stories. Narrative data journalism offers comprehensive analyses, revealing stories behind data. Understand industry trends for a deeper perspective on tech's intricate relationships with society.

    Expert Reviews

    Empower decisions with Expert Reviews, merging industry expertise and insightful analysis. Delve into tech intricacies, get the best deals, and stay ahead with our trustworthy guide to navigating the ever-changing tech market.