Apple Posts Strong Q1 2010 Results, Hints at New Product

Apple Posts Strong Q1 2010 Results, Hints at New Product

There's no stopping the Apple freight train. The company recently announced their financial results for Q1 2010, and the numbers are nothing short of stunning. Revenue was a staggering $15.68 billion, while profits were in excess of $3 billion, this is compared to $11.88 billion in revenue and $2.26 billion in profits from a year ago. In addition, over 3 million Macs, 21 million iPods and 8.7 million iPhones were sold.

The Apple Blog - Apple reported revenue of $15.68 billion and a net quarterly profit of $3.38 billion, beating even the most optimistic of six-figure analysts, not to mention the Wall Street consensus. Apple CEO Steve Jobs focused on the meaning of the accounting change and teased us all via press release.

“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” said Steve Jobs, Apple’s CEO. “The new products we are planning to release this year are very strong, starting this week with a major new product that we’re really excited about.”

I wonder what that could be? As for the non-investor who just likes Apple products, the holiday quarter was another record for Macs and iPhones, while iPods remain dominant in the market, if declining slightly in sales.

Stellar results aside, Jobs also hinted at a major new product that is set to be released. Now as some of you may know, Apple has a special event slated this week, and many have speculated on the unveiling of the long anticipated and wildly rumored tablet device. We'll find out soon enough. In the meantime, click here to read more about Apple's results for Q1 2010.