Apple Announces Record Earnings, Lion Coming on Wednesday, July 20

Apple made their quarterly earnings call on Tuesday, July 19th, where they made a handful of key announcements. They told shareholders, and the public, that they had yet another record quarter, with revenue at $28.57 billion.  Their quarterly net profit was a record-setting $7.31 billion.

The record profits were driven mostly by sales of the iPhone, which moved 20.24 million units, up 142 percent over the previous year. iPads also helped the cause, selling 9.25 million units, up 183 percent over Q3 2010. Macs grew 14 percent to 3.95 million units, which was below some analysts expectations.

Not all of the news was growth, however. The aging iPod brand experienced a decline of 20 percent to only 7.54 million units sold. This makes sense, if you consider the fact that many users have moved to the iPhone, using it as a music device.

During the call, Apple made an announcement that was unexpected and expected at the same time. CFO Peter Oppenheimer announced that the newest version of Mac OS X is coming tomorrow, Wednesday, July 20. While a large number of news sources have reported that date as the release, no one expected them to make an announcement during the call.

Lion, which will bring OS X to version 10.7, is due to bring a number of changes to the operating system. If you want to read more about it, you can check out an article on the changes here. I also recommend that you prepare your Mac for Lion by following the guide I wrote a few weeks ago.

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Tony Price

Tony A. Price is a Nutrition and Dietetics Student from Louisiana in the United States. He has a deep passion for high end technology, mobile devices and applications, Mac hardware and software, and video gaming. His website is Tony's Brain, his Twitter handle is @TonyAllenPrice and you can follow him on Google+.