You heard us.
Following Apple’s fiscal conference call earlier this evening – (in which the company announced record Q2 revenue of $39.2 Billion, seeing net profit of $11.6 Billion) – Forbes ran an interesting and (part-speculative) report using the financial information revealed during the call to approximately weigh-in the rate at which Apple is taking in cash.
Noting that securities increased by $12.6 Billion for the March quarter – now reflecting $110.2 Billion – the publication highlights that this would indicate the company could currently be raking in cash at a rate of $138.2 Million per day. Break that down and it equates to $5.75 Million per hour, or $96,000 a minute.
And that’s not even the most incredible part to all of this. The figures announced by the firm tonight suggest Apple is currently taking in around $1,600 every single second. … See that, there’s another $1,600. Just like that.
As a result, Forbes reports Apple has managed to accrue $28.6 Billion within the last 6-months, and this rate appears to be showing no signs of slowing down anytime soon. In fact, over that 6-month period, Apple was said to be earning $156.3 Million per day, (or $1,800 a second.)
… Well on the way to that $1 Trillion stock valuation.
Amazing.
/ Forbes
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I think you need to check your math.
That math is way off.
Assuming 12 weeks, @ $39.2B income…
39,200,000,000 / (12 weeks x 7 days x 24 hours x 60 minutes x 60 seconds) = $5401.23 / second.
Profit is:
11,600,000,000 / (12 weeks x 7 days x 24 hours x 60 minutes x 60 seconds) = $1598.32 / second.
Still amazing.