Apple Reports Record 4Q Revenue and Earnings

Apple Inc. (Cupertino, Calif.) announced it posted record revenue of $20.34 billion and net quarterly profit of $4.31 billion for its fiscal 2010 fourth quarter ended September 25. These results compare to revenue of $12.21 billion and net quarterly profit of $2.53 billion during the same quarter in 2009.

Breaking down the sales, Apple says it sold 3.89 million Macs, a 27 percent unit increase over last year; 14.1 million iPhones, a 91 percent unit growth; and 9.05 million iPods, or an 11 percent unit decline. The company also sold 4.19 million iPads, which debuted this year.

“We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings – both all-time records for Apple,” says ceo Steve Jobs. “We still have a few surprises left for the remainder of this calendar year.”

During a fourth-quarter conference call, chief financial officer Peter Oppenheimer said the company will focus its retail strategy on more foreign stores, including locations in fast-growing overseas markets, as well as expanding some stores to accommodate the increased growth, such as the recent remodeling of the St. Louis Galleria store. The company plans to open 40 to 50 new stores in fiscal 2011, with a record 50 percent of them going outside the US.