Apple reported first-quarter profit of $6 billion

IPhones and iPads continue to drive Apple earnings

Apple on Tuesday reported record revenue for the first quarter, reaching $US26.74 billion, driven by sales in iPhones, Macs and iPads.

Revenue was up 71 per cent. Net profit was up 78 per cent to $6 billion, or $6.43 per diluted share.

The company sold 4.13 million Macs during the quarter, up 23 per cent over the same period last year. IPhone sales continue at a healthy clip, improving by 86 per cent over last year to 16.24 million sold in the quarter.

Apple also sold 7.33 million iPads during the quarter.

In a statement, CEO Steve Jobs called the holiday quarter "phenomenal," with record Mac, iPhone and iPad sales.

The tablet market has belonged to Apple, but that could be set to change as new tablets running the Android OS hit the market. According to IDC, Apple had an 87.4 per cent share of the worldwide market in the third quarter, the most recent that IDC has accounted for. However, growth this year and beyond will come from devices based on Android and other OSes, IDC said.

The earnings report comes a day after Apple announced that CEO Steve Jobs is taking a medical leave of absence. The company did not say how long he'd be away or the specific reason for the leave.

Jobs similarly stepped aside in January 2009 for a six-month period to undergo a liver transplant. That followed surgery in 2004 to remove a cancerous tumor from his pancreas.

Apple has scheduled a conference call to discuss the earnings for 2 p.m. Pacific Time. It's unclear if the company will disclose more about Jobs' condition then.

How much information Apple should disclose to the public about Jobs' health has been the subject of much debate. The company was criticized for not disclosing that he had a liver transplant until he was well enough to return to work.

While some CEOs have big personalities, Jobs in particular is credited with orchestrating some of the trendsetting technologies that come from Apple. Some people argue that without him, Apple would be a very different company. As such, they say the company has a duty to inform investors about health issues that impact Jobs' ability to lead the company.

The uncertainty about Jobs' condition appears to be concerning investors. Shares of the company were down $20 Tuesday morning, the first day of trading since the news broke of Jobs' leave. However, before the earnings announcement on Tuesday, shares of the company bounced back a bit to be down $5 or 1.4 per cent.

Join the PC World newsletter!

Error: Please check your email address.

Tags Macbusiness issuesmac laptopssmartphoneshardware systemsdesktop pcsPhonestablet PCslaptopsfinancial resultsAppleconsumer electronics

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?