Apple earnings leap 50 per cent

Jobs: 'We're a $50 billion company'


Updated Apple began one of the most important weeks in its recent history by reporting a 50 per cent jump in profits for the first quarter of its fiscal year when compared with the same period in 2009.

This Wednesday, Apple is all but certain to unveil its long-awaited but still inscrutable iPad. Monday's news, however, left no room for speculation: The company earned a profit of $3.38bn. During the same period last year, earnings were $2.25 billion.

Overall revenue was equally strong: $15.68bn, compared to $11.88 billion in 2009's first quarter, beating consensus predictions by Wall Street guessmen.

The results showed strong growth from Apple's previous quarter - which was a barn-burner in its own right. In Q3, Apple sold more Macs and iPhones than in any previous quarter.

But after Q4, Steve Jobs has upped the stakes again. "If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company," he said. "The new products we are planning to release this year are very strong, starting this week with a major new product that we’re really excited about."

There's that iPad again.

But this quarter's result reminded the world that Apple's not just a manufacturer of pocketable gadgets. Cupertino sold 3.36 million Macs during the quarter, a 33 per cent increase over the same period last year.

iPhone sales were also strong, with 8.7 million of the phones being snapped up. That's a 100 per cent increase over the year-ago quarter. ®

Update

Some analysts are opining that Apple's revenue surge was caused by an accounting change that redistributes the income and expense figures for iPhone and Apple TV. During the company's Monday-afternoon conference call with reporters and financial folk, Apple CFO Peter Oppenheimer clarified that impact.

"Our actual revenue of $15.68bn exceeded the guidance that we gave under the old accounting principles by over $4bn," Oppenheimer said. "Roughly half of that was attributed to the performance of the business ... and the accounting change accounted for the other half of the $4bn."

So, yes, the accounting change had an impact, but Apple still exceeded the goals that it had announced at the end of last quarter by $2bn directly attributable to performance.


Other stories you might like

  • AMD claims its GPUs beat Nvidia on performance per dollar
    * Terms, conditions, hardware specs and software may vary – a lot

    As a slowdown in PC sales brings down prices for graphics cards, AMD is hoping to win over the market's remaining buyers with a bold, new claim that its latest Radeon cards provide better performance for the dollar than Nvidia's most recent GeForce cards.

    In an image tweeted Monday by AMD's top gaming executive, the chip designer claims its lineup of Radeon RX 6000 cards provide better performance per dollar than competing ones from Nvidia, with all but two of the ten cards listed offering advantages in the double-digit percentages. AMD also claims to provide better performance for the power required by each card in all but two of the cards.

    Continue reading
  • Google opens the pod doors on Bay View campus
    A futuristic design won't make people want to come back – just ask Apple

    After nearly a decade of planning and five years of construction, Google is cutting the ribbon on its Bay View campus, the first that Google itself designed.

    The Bay View campus in Mountain View – slated to open this week – consists of two office buildings (one of which, Charleston East, is still under construction), 20 acres of open space, a 1,000-person event center and 240 short-term accommodations for Google employees. The search giant said the buildings at Bay View total 1.1 million square feet. For reference, that's less than half the size of Apple's spaceship. 

    The roofs on the two main buildings, which look like pavilions roofed in sails, were designed that way for a purpose: They're a network of 90,000 scale-like solar panels nicknamed "dragonscales" for their layout and shimmer. By scaling the tiles, Google said the design minimises damage from wind, rain and snow, and the sloped pavilion-like roof improves solar capture by adding additional curves in the roof. 

    Continue reading
  • Pentester pops open Tesla Model 3 using low-cost Bluetooth module
    Anything that uses proximity-based BLE is vulnerable, claim researchers

    Tesla Model 3 and Y owners, beware: the passive entry feature on your vehicle could potentially be hoodwinked by a relay attack, leading to the theft of the flash motor.

    Discovered and demonstrated by researchers at NCC Group, the technique involves relaying the Bluetooth Low Energy (BLE) signals from a smartphone that has been paired with a Tesla back to the vehicle. Far from simply unlocking the door, this hack lets a miscreant start the car and drive away, too.

    Essentially, what happens is this: the paired smartphone should be physically close by the Tesla to unlock it. NCC's technique involves one gadget near the paired phone, and another gadget near the car. The phone-side gadget relays signals from the phone to the car-side gadget, which forwards them to the vehicle to unlock and start it. This shouldn't normally happen because the phone and car are so far apart. The car has a defense mechanism – based on measuring transmission latency to detect that a paired device is too far away – that ideally prevents relayed signals from working, though this can be defeated by simply cutting the latency of the relay process.

    Continue reading

Biting the hand that feeds IT © 1998–2022