Apple Inc. Quarterly Report for Q3 Ended Jun 26, 2010

Summary

Apple Inc.'s third quarter of fiscal year 2010 (ending June 26, 2010) demonstrated robust growth, with total net sales reaching $15.7 billion, a significant 61% increase year-over-year. This strong performance was primarily driven by the remarkable success of the iPhone, which saw a 74% increase in net sales and contributed 34% of total revenue for the quarter. The newly launched iPad also made a substantial impact, generating $2.2 billion in net sales and accounting for 14% of total revenue in its debut quarter. Profitability also saw substantial improvement, with net income rising to $3.25 billion, a nearly 78% increase compared to the prior year, leading to diluted earnings per share of $3.51. The company's balance sheet remained strong, with cash, cash equivalents, and marketable securities growing to $45.8 billion. This quarter highlights Apple's continued innovation and market leadership, particularly in the mobile device sector, supported by strong sales across its entire product portfolio.

Key Highlights

• 1Total net sales surged by 61% year-over-year to $15.7 billion, driven by strong product demand.
• 2iPhone sales grew 74% year-over-year, becoming a dominant revenue driver at 34% of total net sales.
• 3The newly launched iPad contributed $2.2 billion in net sales, representing 14% of total revenue in its first quarter.
• 4Net income increased by nearly 78% to $3.25 billion, reflecting significant operational leverage.
• 5Diluted earnings per share (EPS) rose to $3.51, up from $2.01 in the prior year's comparable quarter.
• 6The company maintained a strong liquidity position with $45.8 billion in cash, cash equivalents, and marketable securities.

Frequently Asked Questions