Apple’s Financial Statement For Second Quarter

Apple has released its third quarter financial results. This reflects fiscal 2010 third quarter ended June 26, 2010.

The company boasted record revenue of $15.7 billion and net quarterly profit of $3.25 billion. This compares to a year ago, when Apple reported revenue of $9.73 billion and net quarterly profit of $1.83 billion.

Obviously Apple has had some big product launches this year that largely contributed to revenue. The company sold 3.47 million Macs during the quarter (which was a record in itself), as well as 8.4 million iPhones 9.41 million iPods, and 3.27 million iPads (which were only launched during the quarter).

“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Apple CEO Steve Jobs. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

“We’re really pleased to have generated over $4 billion of cash during the quarter,” added Apple CFO Peter Oppenheimer. “Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44″

Apple’s gross margin was 39.1% compared to 40.9% a year ago. International sales accounted for 52% of the quarter’s revenue.

Apple iPhone4 Complaints

Apple CEO Steve Jobs is standing by the iPhone 4, even if it is flawed.

He insists that the phone is actually not flawed and in actual fact it shares the same problem with other handphone brands, like RIM (Research In Motion, Known as Blackberry) and Samsung.

“This has been blown so out of proportion,” he says. “This is life in the smartphone world. Phones aren’t perfect. Most every smartphone we tested behaved like this.”

Probably pretty safe to say that he is lying when he said that because Apple would never put a flawed phone on the market, would they?

All the complaints when it comes to the iPhone 4 pertain to its wraparound antenna design which has resulted in poor reception if a user holds the phone a certain way but the way in which Jobs defended the phone kinda implies that he thinks everybody is smoking something funny.

The iPhone 4 hit the US on June 24 and sold at an incredible rate in its first week but has dropped dramatically since news of the faulty antenna broke.

But in preventing the sales of iPhone 4 to drop, he is giving away free cases to each iPhone 4 owner, as an appology for the “wrong doing”; for current iPhone4 owner and for “new” owner.

In the press he said that nobody is perfect, so is Apple. Hmmm, that seems logical.