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Last updated: Tuesday, January 26, 2010

So far, Apple is having a very good week. On Monday, the company announced profits were up nearly 50 percent in its fiscal 2010 first quarter. This good news comes just before Wednesday’s big event, when the Cupertino, Calif.-based company is expected to unveil a much-awaited tablet computer. The quarter, which ended the day after Christmas, brought in $15.68 billion in revenue and a net quarterly profit of $3.38 billion. In the same quarter a year ago, revenue was $11.88 billion and profit about $2.26 billion. Apple’s gross margin increased from 37.9 percent a year ago to 40.9 percent, and international sales were about 58 percent of total revenue. iPhones Up 100 Percent Two of Apple’s three main product lines showed increases. Sales of Macintosh computers rose 33 percent compared to a year ago, and iPhone sales were up 100 percent. iPod sales, however, dropped eight percent. Apple CEO Steve Jobs said that, if the quarterly revenue were annualized, “it’s surprising that Apple is now a $50+ billion company.” He added that 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.” A tablet computer from Apple has been rumored for years, with the buzz getting more intense and specific in the last few months. Assuming the company does unveil a tablet at Wednesday’s event in San Francisco, it could come at exactly the right time to propel Apple into its next wave of products. In a flurry of recent announcements, a variety of other companies have released new e-book readers, netbooks and tablets. If Apple unveils what is essentially a bigger iPod, it could address all three categories at once. A recent report from Flurry Analytics indicates that Apple is targeting consumers, and emphasizing applications for games, entertainment, news and…

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Apple’s Sales and Profits Strong as Big Event Approaches

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