Apple reports 50% jump in Q1 profit to $3.38 bn, doubles iPhone sales
Posted by dillesh on January 26, 2010
Apple doubles its iPhone sales and registered a 50% jump in its profit in fiscal Q1 financial which ended on December 26th, whereas the Mac sales up 33%. The interesting thing to look at is, the iPod sales have seen a drop up to 8% when compared to its sales in the earlier year. Apple revenues stood at $15.68 billion with a 32% rise in revenue, according to consumer electronics report. On the whole, Apple showed a $3.38 billion profit in Q1 from $2.26 billion or $3.67 a share which was $2.50 a share in the last year. Additionally in this quarter, Apple has adopted a new accounting principle for subscription devices such as the iPhone and the Apple TV.
According to WSJ reports, “new accounting rules that allow it to recognize all the revenue for iPhone sales at the time the phones are sold. Previously, it deferred such revenue over 24 months, or the length of time consumers are expected to use the handsets. the company also restated past periods to reflect this change.”
[via slashgear]
