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.
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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.
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Despite rumors that it may launch this month, Apple has confirmed the Mac App Store will launch next month, on January 6th.
First announced back in October, the Mac App Store will mimic the iOS App Store, giving Mac desktop and notebook owners a chance to download thousands of free or paid apps to their computers.
Says CEO Steve Jobs:
The App Store revolutionised mobile apps. We hope to do the same for PC apps with the Mac App Store by making finding and buying PC apps easy and fun. We can’t wait to get started on January 6.
The downloads will come via “a new system overlay,” says GI.
Apple says the Store will come with a free update to the Snow Leopard OSX.
The Store will be built-in the upcoming Lion OSX.
Just like in the iOS Store, Apple takes a full 30 percent cut of any sales made, however some more savvy game makers have begun releasing free versions of the games with in-app purchase offerings for full versions.
