Apple peels away from new media competitors in earnings
Editor ©RapidTVNews | 04-06-2012
Even though that in some niches it is facing stiff competition, over the top for example, Apple is continuing to dominate the technology and new media industry.
New research from SNL Kagan found that Apple generated $39.19 billion revenue for the first three months of 2012 exceeding that reported by the companies ranked Nos. 2 and 3 combined.
Moreover as an indication of just how fast the Apple juggernaut is travelling thanks to the launch of the iPad and iPhone 4, during the first quarter of 2012, Apple banked more than a third of its total revenue reported for all of 2011, representing 58.9% year-over-year growth. Net income grew 94.1% to $11.62 billion, from $5.99 billion a year earlier. These record revenue and profits utterly eclipsed the closest challenger.
In its analysis of the media industry, SNL says that “it was perhaps a no-brainer that the most valuable company in the world would end up dominating its sector in terms of earnings in the first quarter.”
Looking forward, and quoting RBC Capital Markets analyst Amit Daryanani, SNL said that some of the recent stock pressures Apple has encountered have only made it more appealing to investors, and that with the launch of the iPhone 5 and more Mac products, this momentum will only continue.