Jobs announced the release of non-GAAP financial results that expose the hidden, deferred revenues related to the subscription accounting used for the iPhone and Apple TV. The numbers are "truly stunning" Jobs said. "By eliminating subscription accounting, adjusted sales for the quarter were $11.68 billion, 48% higher than the reported revenue of $7.9 billion, while adjusted income was $2.44 billion, 115% higher than the reported net income of $1.14 billion.
"Adjusted net income that is more than double our reported income," he added. "If this isn't stunning, I don't know what is. All due to the incredible success of the iPhone 3G."
Jobs also announced two milestones related to its phone business. "The first is that Apple beat RIM," Jobs said, noting that "RIM is a good company that makes good products. And so it is surprising that after only fifteen months on the market that we could outsell them in any quarter."
"But even more remarkable is this," he continued, "measured by revenues, Apple's become the world's third largest mobile phone supplier. I know this sounds crazy, but it's true. As measured in revenues, not units, Apple has become the third largest mobile phone supplier."
"Let's look at the ranking. Nokia is clearly number one with $12.7 billion. Samsung number two at 5.9 billion. Apple is number three at 4.6 billion, Sony Ericsson is number four with 4.2 billion. LG number five at 3.4 billion, Motorola number six with 3.2 billion and RIM number seven at 2.1 billion. Pretty amazing."