Money Machine

Apple’s Q1 financial results are in, and the company made money. Shocking amounts of money. Unbelievable amounts of money. As in double last year’s revenue and profit. $13.1 billion in profit, $97.6 billion total in cash. As reported by MG Siegler at TechCrunch, their revenue is more than double Microsoft’s, and their profits put them 4th on the list of all-time largest quarterly earnings. Note that Apple is the only company on that list that doesn’t sell oil. The iTunes store alone generated more revenue than all of Yahoo. The iPad market is now bigger than the desktop PC market. An Apple store is worth, per square foot, as much as the White House.

The hardest thing for me to believe is that we still see, day in and day out, countless articles calling for Apple to change its ways or risk impending doom. Meanwhile, smarter people who bought Apple products (and stock) are laughing all the way to the bank. Numbers don’t lie, and neither does this handy chart from Macworld.

Maybe they’ll use all that cash for some philanthropy? That would be even more incredible.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s