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Apple Sales Roar Past Q3 Estimates with $28.57 Billion in Revenue
Connor Scalleat
With a gross margin of 41.7%, better then what analysts and the company had predicted, Q3 has been a very successful quarter for Apple. Q3’s net profit was a staggering $7.31B, and even though the iPhone is close to a refresh, Apple sold 20.34M iPhones which is 14% more then last year. Apple also sold 9.25M iPads this quarter, bringing iPad sales up 183% compared to last year and lastly Apple sold 3.95 million Macs during the quarter, bringing sales up 14% compared to third quarter last year. Impressive, but Mac sales really seem small.
Apple is proportionally selling fewer Macs than anyone would suspect, and people feel that the iPad is chewing into Mac sales. When asked about the issue, Apple’s Tim Cook said that he agrees that the iPad is cannibalizing some Mac sales, but there are “a lot more windows PCs to cannibalize than Macs”, and the point has been noted. Something that doesn’t come as a shock is that iPod sales were down, at 7.54M iPods sold, which is drifting 20% from last year’s Q3.
Overall this is by far the best non-holiday quater for Macs and the best iPad and iPhone sales quarter in Apple’s history. You can find the Apple earnings release here. Traders seem to be very pleased with what they hear and in the after-hours of the market Apple’s stock is up 6%.
Today’s announcement wasn’t just about numbers
As Apple’s Q3 earning report was released investors were extremely happy, but they weren’t the only ones. Apple’s fanboys/gals were also quite excited when Apple’s CFO Peter Oppenheimer announced that its newest operating system, Mac OS X Lion, would be launching tomorrow. Thus meaning that these rumors which have been circulating on the web are true. The new operating system will be launching with 250 new features, and gearing the Mac OSX operating system to it’s iOS.
Apple’s success put visually
