News: Apple reports considerable jump in earnings

Apple yesterday announced financial results for its fourth quarter ended September 25, 2010.

The Company posted record revenue of $20.34 billion and net quarterly profit of $4.31 billion. These results compare to revenue of $12.21 billion and net quarterly profit of $2.53 billion year on year. International sales accounted for 57% of the quarter’s revenue.

Apple sold 3.89 million Macs during the quarter, a 27% unit increase year on year. In addition, the Company sold 14.1 million iPhones in the quarter, representing a staggering 91% year on year growth.

“We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings—both all-time records for Apple,” said Steve Jobs, Apple’s CEO.

“iPhone sales of 14.1 million were up 91 percent year-over-year, handily beating the 12.1 million phones RIM sold in their most recent quarter. We still have a few surprises left for the remainder of this calendar year.”

In short, Apple is growing - fast. From a company on the verge of bankruptcy in 1997 to one of the largest electronics manufacturer in the world. As it currently stands, Apple is the third most popular PC brand in the United States and the most popular smartphone brand across the globe.

Apple reports considerable jump in earnings

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