Apple has been getting some bad press lately thanks to the iPhone 4's various issues, but their Q3 earnings report should help raise investor confidence in the company. Today Apple released their earnings report for Q3 2010, ending on June 26th, and the numbers are certainly impressive. The company posted a record revenue of $15.7 billion for the quarter with a net quarterly profit of $3.25 billion, up from revenues of $9.73 billion and profits of $1.83 billion one year ago.
When it comes to product numbers, one of the most interesting things is that Apple managed to move 3.27 million iPads, nearly surpassing the 3.47 million Macs sold in the same time frame. The number of Macs sold represents a 33 percent increase from one year ago and is a quarterly record for Apple. The iPhone also saw an increase in sales compared to last year, up 61 percent, thanks to the 8.4 million iPhones sold. That number includes the first couple of weeks of iPhone 4 sales, as well. Finally, we have the iPod, which was the only product to see a decline in sales. iPod sales shrank eight percent from last year, with 9.41 million units sold.
While there has been some doubt surrounding Apple with the iPhone 4 and "Antennagate," these sales numbers go to show that the company is still going strong. Sure, the iPhone 4 is just barely a part of the above numbers, but customers have shown that they're willing to use a case with the iPhone 4 and that the pros of the device outweigh the cons in their minds. As for the iPad, I won't be surprised when the Q4 numbers are released and the iPad ends up surpassing the various Mac computers when it comes to sales. Macs may have many various devices and are continually growing, but the low price, portability, and app selection of the iPad make it a very attractive product. After reviewing these numbers, one thing is for certain: Apple is basically printing money.