Apple reports record earnings
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During the three month period that ended in June, Apple sold 8.4 million iPhones, up 61% from last year's figures. One negative item came up at the conference call when it was announced that the free cases that Apple is giving away until September, to placate iPhone 4 users affected by the so-called "death-grip", will cost the company $175 million. Still, that is much cheaper than ordering a total recall of the phone which some analysts predicted would cost the company $1.5 billion. Apple's stock rose 5% after hours when the report was issued. Apple is up 20% this year and 65% over the last 12 months, bolstered by the ever growing earnings reports. Over the last three years, the company has tripled revenue and has quadrupled earnings, much of it thanks to the iPhone.
source: DailyFinance, USAToday
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32 Comments
1. wade1968 posted on 20 Oct 2010, 01:47 0 0
KIDS love apple. and books can be rewrote to show they do better then they are,done because if the stocks go down then people will go hey why am i losing money.
2. herbiederb posted on 20 Jul 2010, 19:05 0 0
the crack i smoked yesterday still hasnt worn off cuz i have no idea what you wrote. ticker APPL ftw!
3. deejh posted on 20 Jul 2010, 19:06 0 0
As long as there are sheep in the herd, steve "God's" pockets will continue to get fat and the world will have the perception that apple is better.
4. JackFace posted on 20 Jul 2010, 19:33 0 0
Damn Moron... Tell me you are not in some herd... think hard, and I mean really hard. You are not unique when it comes to phones an technology. There are only so many you can choose from. Sure, you can customize your phone (for the most part, especially if you don't own an iPhone), but you are in a herd of some sort, and in the end, someone's pockets are getting fat. Get over yourself.
8. deejh posted on 20 Jul 2010, 21:12 0 0
Like I said, SHEEP!!! You make one comment and they just go off. LMAO!!!! They must protect the herder, Steve God himself.
11. *HOVA* posted on 21 Jul 2010, 06:30 0 0
Damn moron is for sure. Try as you might JackFace, you just can't fix stupid.
12. JeffdaBeat posted on 21 Jul 2010, 08:56 0 0
Everyone wants to use this Sheep metaphor...but think about it. Toyota has a huge following and their earnings and sales dropped when their was a major problem with their product. So much so that American automakers started overtaking Toyota in sales. If the average consumer is a sheep...then why didn't they blindly follow Toyota? Apple had a major flaw in their phone. Although not life threatening, it still was a flaw that impacts the function of the phone. Apple does well because they make great products. Indeed, they are not perfect, but their track record has been better than most electronic makers out there. You can't take that away from them.
14. deejh posted on 21 Jul 2010, 09:34 0 0
We have been blessed with a HOVA sighting. Sheep!!!!!!
25. omgoshphones305 posted on 21 Jul 2010, 17:54 0 0
you don't see toyota fans arguing with nissan fans on blogs at this caliber do you?
5. Mateo8326 posted on 20 Jul 2010, 19:54 0 0
Hate on Apple all you want, but their Apples a day don't keep the customers away
7. scottmbolt (unregistered) posted on 20 Jul 2010, 20:39 0 0
Antenna's everyday keep Apple's users at bay!
26. omgoshphones305 posted on 21 Jul 2010, 17:55 0 0
haha that comment just burned my screen on my computer
6. NOVAinc posted on 20 Jul 2010, 20:18 0 0
Pretty amazing indeed, looks like those guys at Apple do know one or two things about selling a lot. Looks like it won't stop anytime soon too. I'd like to see some other reports from other companies too. Good quarter for Apple and Sony Ericsson, congrats to those guys.
9. deejh posted on 20 Jul 2010, 21:21 0 0
Antenn-aid colorful bandages for the iphone 4 are available now 6 pack for $4.99. Go Gett'em sheep. What a F'ng joke. I would never buy and continue to suppprt a FAILED Product. SHEEP!!
10. ilia1986 posted on 21 Jul 2010, 00:23 0 0
Did anyone notice that little number? 175 million US$. I would like to see another company with only a handful of products that just decided to give it's customers 175 million dollars for free. I'm not talking about the whole antennae issue and whether it's justified or not. I'm talking purely from the business perspective. Who on earth cares what people will think in the long term? Steve Jobs is an old-enough man, and I think that If I were him - I would maximize profit right now - to save me and all the other employees for a very nice pension. There are 34,300 employees at apple right now. That means that Apple gave out an average 5147$ from each and every one's payment. If you were an employee in a relatively big company - would you agree to depart from 5147$ for the sake of PR? Look - I know that this is how business works - that it's important to keep the consumers happy, and make sure they come again and blah blah blah, but jesus freaking christ!! Thats 175 million US$!! I seriously seriously doubt that even if they didn't offer these bumpers for free - the company would lose 175 million US$ of profit in the next quarter because of that. Do you know what any Israeli high-tech company could do with 175 million$? Thats insane. And people even wanted them to recall the iPhone 4. I am yet to see any company on the world willing to lose 1\10th if it's quarterly profit because of any non-lethal issue with their product. Again before you all start claiming certain statements - I repeat - I'm thinking from the business perspective - not from the consumer's one. And the bottom line of every company goal sheet is to maximize profit and revenue in the short term. Because like John Maynard Keynes said - in the long term we are all dead.
13. corps1089 posted on 21 Jul 2010, 09:28 0 0
Spin the #'s any way you want ilia; I don't disagree with you, but don't absolve all guilt in the name of business... The business fact is that Apple reluctantly spent the $175M to avoid much greater than $175M losses due to counteracting bad press to maintain customer satisfaction and stop loss of future sales. The bad business decisions highlighted by this mess are; implementing the external antenna despite industry trend and expert's advice, denying that there was a problem, then insisting the problem was not with the phone but with the user, then coming up with an excuse to blam ATT's network [they had it coming for a long time anyway], then taking so long to announce the 'bandaid' and not even publicizing the factory fix that they have implemented [assumedly due to their reluctance to admit a problem in the first place]. I personally would have given kudos if Steve & Apple had come out immediately and said, "My bad: cool idea that didn't quite work out. Here's the free bumper if you want it. If not, you have to admit that you will have the coolest looking phone out there with the most cache if you like that sort of thing!"
