Apple Adds $1,670 to its Profits Every Second

In the final quarter of 2011, when many world leaders were battling crisis in the euro zone to prevent another global recession, the cash counters at Apple Inc were adding $1,670 to its profits every second, according to published data.

With a market value of $400 billion, Apple is now worth more than Venezuela's annual economic output.

Growth

A company this big is neither expected to nearly double revenue year-on-year nor more than double its profit. But Apple did both.

In the latest quarter, Apple turned in a profit of $13.1 billion which equalled its revenue in Q4 2010 - underlining the scorching pace of its growth.

Versus Microsoft

In the latest quarter, its revenue was more than double of Microsoft.

Versus Google

Apple's profits for the last quarter exceed Google's entire revenue for last quarter.

Versus Android

Apple's share of the US smart phone market doubled from a year earlier to 44.9 per cent, while Android's share fell from 50 per cent to 44.8 per cent in the same period.

Versus IBM

When IBM launched a PC to compete with Apple in 1981, Steve Jobs mocked at IBM with a full page ad in the WSJ which said "Welcome, IBM. Seriously"

The figures speak:

$108 billion - 35-year-old Apple's revenue at end-FY11.
$106 billion - 100-year-old IBM's revenue at FY11 end.