Currency Swings Cost Apple More Money Than Google Makes In A Quarter
The company sold more than 74 million iPhones and raked in more profit in the Holiday quarter than any company has in any quarter ever.
On the company's conference call, however, the big thing Apple analysts wanted to know was how the strong US dollar was impacting, and would impact, the company's performance.
In a post on Stratechery following Apple's quarter, Ben Thompson put the impact currencies had on Apple's quarter into some broader perspective.
Thompson here is criticizing those that think Apple is "doomed" or "hanging by a thread," but its also a great look at just how big Apple is:
It's difficult to overstate just how absurd this is, but here's my best attempt: last quarter Apple's revenue was downright decimated by the strengthening U.S. dollar; currency fluctuations reduced Apple's revenue by 5% - a cool $3.73 billion dollars. That, though, is more than Google made in profit last quarter ($2.83 billion). Apple lost more money to currency fluctuations than Google makes in a quarter. And yet it's Google that is feared, and Apple that is feared for.
Just staggering figures.
To boot, Apple recorded more revenue just from iPhone sales in the Holiday quarter - $51.18 billion - than Google and Microsoft are expected report over that period. Combined.
And as Business Insider's Jay Yarow wrote on Wednesday, Apple might just be getting started.