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Apple earnings, profits, and cash embarrass Microsoft
While Microsoft executives like to talk about Apple as an insignificant company with less than 5% of the worldwide market share of all PCs and servers sold, the Mac maker now has more cash than Microsoft and earns more than half of its profits and over three fourths its revenues. For the quarter ending in September, Microsoft released revenues of $15.06 billion, net profits of $4.37 billion, and a reserve of cash, cash equivalents, and short-term investments that added up to $20.7 billion. Apple reported $7.9 billion in revenues and $1.14 billion in net profit, but those numbers don?t include most of its iPhone business, which is hidden away in subscription accounting under GAAP rules. For that reason, Apple also released its real earnings: $11.68 billion in revenue and $2.44 billion in net profits. The company also reported a cash position of $24.5 billion. Microsoft?s quarterly revenues grew by 9%, compared to Apple?s non-GAAP revenue increase of 75.1% year over year.