Apple's first quarter earnings are in. According to Bloomberg News, Apple made $13.1 billion in profit on $54.1 billion in revenue. It sold an absurd 47.8 million iPhones and 22.9 million iPads—both records. Somehow, this is a disappointment.
At least someone made money today. Apple reported earnings of $8.2 billion on $36 billion in sales today, buoyed by strong acceptance of the iPhone 5 and the total lack of public interest in any tablet that's not an iPad.
The problem with being so ridiculously good at what you do is that expectations tend to keep going up beyond any viability. So it is with Apple, whose $8.8 billion earnings on $35 billion of revenue this past quarter is being treated as a disappointment.
During Apple's call today to discuss its monster earnings last quarter, CEO Tim Cook was asked his opinion on Windows 8. He said all of the expected things about how the iPad has unlimited potential, but also weighed in on tablet-PC hybrid devices with this little bon mot:
The important thing to know about the last three months of Apple making money, the results of which were just announced, is that the company did not do as well as the previous quarter, but did way better than last year and than pretty much anyone else who produces and sells products.
Apple just set company records for net income ($13.06 billion) and revenue ($46.33 billion), thanks in large part to selling as many iPhones as there are people in California. Oh, and nearly half as many iPads, too. All of which contributed nicely to the $97 billion of cash and securities the company's sitting on. I…
Apple may have missed Wall Street's sales expectations this quarter in most of their product divisions, but the millions of iStuff they did move was good for $28 billion revenue, $6.6 billion profit, and the continued good health of Cupertino 401ks.
Apple just reported the kind of mammoth earnings that most companies only dream of in these dreary economic days: $28.57 billion of revenue resulting in $7.31 billion earnings, profits that were more than double a year ago. Yowza.
iPad sales may have dropped more than 30% between the holiday quarter and this most recent one, but that didn't stop Apple from having second-quarter record revenues and earnings.
If you were wondering just how huge the iPad was this holiday, the answer is very. Apple sold 7.33 million tablets last quarter on the way to a record profit of $6 billion. And we haven't even mentioned the iPhones.
The last time Steve Jobs got on an earnings call, it was to reassure investors that he was in good health. So what made him spend an hour taking questions today? Here's what Jobs said, and what it means.
That didn't take long. This past summer, Apple sold more iPads than Macs for the first time, and more iPhones—way more—than iPods. And they made more than $20 billion doing it. Updating live with Steve Jobs' comments: