|| By FITSNEWS || It’s “earnings season,” a.k.a. the time of year when companies reveal how much money they made in the previous year.
How has this year’s “earnings season” been? Not very good … which has prompted concerns among Wall Street investors about the health of the U.S. economy (which was supposed to be all rainbows and unicorns).
One company bucking the trend, though? Apple …
The Cupertino, California-based giant posted the biggest quarterly profit in corporate history this week after selling a whopping 74.5 million iPhones from October to December of last year. Apple’s $18 billion profit – a 37 percent hike from the previous year – shattered the $16.2 billion profit posted in 2011 by Russian energy conglomerate Gazprom during the first quarter of 2011 (the previous profit mark).
“Interest in Apple products is at an all time high … shattering our high expectations,” Apple CEO Tim Cook said.
Ya think?
The previous quarterly record for iPhone sales was 51 million – set last year.
To put the 74.5 million figure in perspective, Apple sold nine iPhone every second last quarter … that’s right, every friggin’ second.
Unreal … although sadly, our founding editor was not among the 74.5 million as his wife has forbidden him from upgrading until next year’s iPhonic rush.
Driving the big gains? Apple’s recent deal with China Mobile – which went into effect during the first quarter of last year. Also Apple finally responded to consumers demanding bigger screen sizes.
***
12 comments
Where are you getting your stats that earnings are not good? So far 72% of companies who have reported have beat the estimates while 19% have missed and 9% have met. So I assume you are just looking at the big banks and a couple of Multi nationals who have horrible management? Just wondering how you came up with that statement.
Every news site has an article on it. Maybe you can find your answer there.
I know people have been disappointed, but it is only on a few companies. So far, of the 33% that have reported, have 72% have beaten their numbers. Just an FYI.
You can actually list some good ones – Apple, AT&T, American Airlines, US Steel, NUCOR steel, Boeing (oh my). Yeah, back to WCRP Crapville message again.
Is Apple using union labor to produce their products?
If robots can join a union, yes they are then.
Outsourcing is wonderful, isn’t it?
That damn 1%.
Ever read about Steve Jobs changing designs at the last minute and the crap that the factory “workers” went though to make deadlines? Started with the very first iphone and then morphed in to a regular thing with all the products. Reports say the “workers” were pulling 20 hr shifts for 3 hots and a cot for payment.
Exactly. But Apple earnings on their 90% profit margin utilizing slave labor is GOOD, but Oil companies having earnings on their 3% margin while paying the highest wages of any company is bad.
Earning Suck? How ’bout “Spelling Suck?”
Seems a little gloom-and-doom to me (very ZeroHedge-esque), since corporate earnings this year have actually been OK. Not a standard recovery, to be sure, but pretty good.
Of recent interest: Apple is proposing to build a huge “command center” in Arizona.
Scuttlebutt is that Apple and Apple employees are just plain tired of paying the freight of high g’ment overhead in Taxifornia, although the Apple rank and file generally vote liberal, democrat. … Most techies and high tech Silicon Valley employees can easily grasp the simple mathematics of the taxsuckers … there is no “common core” math taught in Palo Alto schools.