Apple results improve on strong iPod sales

Apple released their 3rd Quarter financial results last night and the news is quite good for them. Profits up (300%), revenues up (30%), unit sales for iPod up, unit sales for CPUs up, can't complain about that.

Beyond the basic highlights, here are some other interesting tidbits from the announcement (also available as a webcast):

  • Sales of the iMac in the 3rd quarter were only 60,000 units (of the 876,000 Macs sold), so the timing for running out of iMacs doesn't seem nearly as bad as the markets thought it was a couple of weeks ago. In reality, they're better off to run out of iMacs (especially going into the laptop-heavy back-to-school buying season) than to have an excess inventory to try and get rid of when they introduce the new model.
  • Gross margin is up from 27.7 to 27.8%. Not bad!
  • International sales is currently accounting for 39% of their total
  • Apple is still selling more Macintoshes than iPods (but just barely)
  • The new iMac is delayed because of G5 delivery problems with IBM
  • Mac-based revenue was up 19% for the quarter
  • 53% of Mac sales are laptops
  • Dual 1.8 and 2.0 as well as 2.5GHz constraints will continue, due to IBM.
  • IBM Supply problems are expected to abate by FY01Q1 (end of September).
  • iPod market share continues to grow. Still number one MP3 player.
  • iTMS is still 70% of downloaded music sales.
  • Average per-quarter sales of Apple Stores is up substantially (nearly 50% quarter-over-quarter).
  • Apple's education sales are up 4% with estimates on the whole market at -14%
  • Higher-ed sales are up 40% year-over-year.
  • Cash is still basically at 5 billion.