Back in late August when Tim Cook took over as Apple’s CEO, everyone expected an adjustment period but no one was truly worried. It was comforting to believe Steve Jobs was still behind the scenes. However when Jobs passed away last October after his long battle with pancreatic cancer, pundits wondered whether or not Apple could sustain their incredible level of success.
Apple’s last decade of dominance has been due to their brilliant late-CEO. Jobs was a peerless once-in-a-generation visionary, and his leadership and imagination was thought to have been irreplaceable. While it is too early to predict how Apple will grow or fail in the future, their numbers since Jobs’ passing speak volumes.
Apple has released their incredible first quarter financial records and Mashable was kind enough to point out some of the highlights.
- Apple sold 37 million iPhones in the quarter, a 128% jump over the comparable quarter in 2010.
- iPad sales hit 15.4 million, a rise of 111%.
- Mac sales were 5.2 million, an increase of 26%.
- Apple sold 15.4 million iPods, a number which is down 21% as the iPhone cannibalizes sales of more limited-function devices.
- Apple now has $97.6 billion in cash on hand.
- Revenues from iTunes hit $1.7 billion. More than 140 million apps and pieces of content were downloaded on Dec. 25.
- There are 1.5 million iPads being used by educational institutions.
- iCloud has 85 million users. There are now 550,000 apps available. Developers of such apps have earned more than $4 billion, $700 million in Q1.
- Apple Stores produced $6.1 billion in revenues for the quarter. The average revenue per store was $17.1 million vs. $12 million last year. There are about 22,000 visitors per store per week.
- Apple’s revenues for the quarter were higher than the company’s revenues for its entire fiscal 2009.
Apple’s profit in this quarter is bigger than Google’s total revenue. This morning Apple surged past Exxon to again become the world’s most valuable company. This speaks volumes for Apple as a company, and for the foundation Jobs paved during his time as CEO. They no longer have a marketable figurehead (no offense, Tim) and yet they continue to wipe the floor with their competition. If anyone had any doubts about Apple’s long-term future, this should quell them a bit.
[Mashable]
