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Apple reports Q1 earnings with huge profits

Apple sells gobs of iPhones in Q1

| Business, Financial & Legal News | Posted: Jan 26, 2010 6:17 pm

Apple is one of the companies that technology fans either love or hate. There is no denying that Apple makes some of the most compelling products in the tech world from notebooks to desktops and the iPhone its products are very popular.

 

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Apple has released its Q1 earnings report with revenue of $15.68 billion for the quarter. Gross margin for the company was 40.9%. Over the quarter, Apple sold 3.36 million Mac computers, up 33% from the same quarter of the previous year. iPhone sales increased by 100% for the quarter.

 

In all 8.7 million iPhones were sold. Apple reports that it sold 21 million iPods. Despite the huge number of iPods sold, that number is down 8% from the same quarter of the previous year. Steve Jobs says Apple is now a $50 billion company.

 

NEWS SOURCES:Apple.com

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