For the first quarter of 2010, the earnings of Apple went past the expectations of Wall Street. A profit of $3.37 billion was reported. This reported earnings is 50% higher than the earnings reported on the same quarter last year, 2009 ($2.26 billion).

Apple’s revenue for this quarter was a whopping $15.6 billion. This is 32% higher as compared to their revenue on the same quarter last year. The expected revenue reported by Wall Street was around $11 to $12 billion. Apple, once again, exceeding the expectations.

For the record, Apple’s first quarter earnings for 2010 is so far the best in company history. One reason for this success could be the decision of Apple to adopt new accounting principles that were given last fall by the Financial Accounting Standards Board. Another reason for Apple’s high first quarter earnings were the sales brought forth by their leading products, the Mac and the iPhone. 33.6 million macs ()33% gain and 8.7 million iPhones (100% gain )were sold.

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