Apple has completely blown out their quarterly earnings report this afternoon, on the back of strong growth in China and record iPad sales.
Profits for the quarter were $7.31 billion, up 125 percent year-over-year, and revenue was $28.57 billion, up 82 percent YoY.
Following the report, Apple, which closed the day at $376.85 jumped to as high as $405 per share, a new all-time high.
Additionally, the company confirmed it will be releasing Mac OS X 10.7 Lion tomorrow, as reported earlier.
iPhone sales jumped 142 percent to 20.34 million units (a record) and iPad sales jumped to 9.25 million units (also a record).
Says CEO Steve Jobs:
We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.
Sales in China, and the Asia-Pacific region in general, had the most explosive growth with COO Peter Oppenheimer saying overall sales in China are up 600 percent “and just beginning.”
A few other figures of note from the report was weak Mac sales (3.95 million units, up 13.8 percent YoY), the continued decline in iPod sales (down 20 percent to 7.54 million units) and an overall gross margin of 41.7 percent, huge for any industry.
Apple is also expected to release the iPhone 5 in September.
Result for: iPhone
Apple has now proposed a smaller standardized SIM card than is currently used, allowing its iOS devices to be marginally thinner.
UK carrier Orange seems to support the proposal:
We were quite happy to see last week that Apple has submitted a new requirement to (European telecoms standards body) ETSI for a smaller SIM form factor — smaller than the one that goes in iPhone 4 and iPad.
They have done that through the standardization route, through ETSI, with the sponsorship of some major mobile operators, Orange being one of them.
Processing would take some time, but thew first devices using those SIM cards could be out next year.
Result for: iPhone
Cultofmac has reported today that Apple CEO Steve Jobs is pushing hard to get Wi-Fi syncing for the upcoming iPod revamp coming later this year.
The company has apparently been testing the tech for the last two years.
Jobs has made Wi-Fi syncing one of the top priorities for the media players, which are becoming less and less relevant as more people simply buy iPhones or iPads.
So far, Apple’s engineers have had issues with “reliability, signal strength, case design and battery life” when trying for Wi-Fi syncing.
The current method for syncing involves connecting to your PC via USB cable.
Using a carbon fiber design, which the new iPods are said to have, “the engineers have found many improvements” but it is still nowhere near perfect.
