Apple today wowed investors this afternoon with an impressive earnings report that toppled Wall St. estimates yet again. For the 2Q of 2010, Apple reported EPS of $3.33 a share on revenue of $13.5 billion. Net profits for the quarter came in at $3.07 billion, which is nearly 90% higher than Apple’s profits from the same quarter a year-ago. During the 2Q of 2009, Apple reported EPS of $1.79 a share on revenue of $8.2 billion.
Put simply, business is booming.
In terms of inventory, Apple sold 2.94 million Macs during the quarter, representing a 33% increase from the same quarter a year-ago. iPhone sales measured across the same period increased 131%, coming in at 8.75 million units during the quarter. iPod sales, meanwhile, checked in at 10.89 million units sold, representing a 1% decline from the same quarter a year-ago.
“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49 percent and profits up 90 percent,” Steve Jobs said in an Apple Press Release. “We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year.”
Think about that. Apple’s revenues were up by about 50%, but their profit levels almost doubled. That’s unbelievable.
Prior to Apple’s earnings announcement, the consensus on Wall Street was that Apple would report earnings of $2.45 a share on revenue of $12.04 billion. In fact, the highest estimate from over 25 polled analysts was from Turley Muller of Financial Alchemist who anticipated EPS of $2.81 on revenue of $12.87 billion. o yeah, Apple smashed through even the most bullish of analyst predictions, with ease.