Friday, January 7, 2011

SEC Watch: Apple's Profits Ballooned In 2010; So Did Jobs' Compensation

Apple (NSDQ: AAPL) reported a very good year for 2010 - and while Steve Jobs is still only taking a $1 as part of its annual salary, his compensation grew substantially, the company said in an SEC filing. In the year Apple unveiled its iPad and had some embarrassing struggles related to the performance of the iPhone 4, the company’s revenue grew to $65.2 billion, representing a 52 percent gain over 2009. Net income meanwhile grew to $14 billion in 2010, an increase of 70 percent from the year before. Apple also ended the year with a cash and “marketable securities” balance of $51 billion for a 50 percent rise year-over-year. Individually, Jobs and the directors benefited from the strong results, while the CEO also received a great deal of reimbursements for things like his private jet.

Freida Pinto Eva Longoria Susan Ward Emmy Rossum Kim Yoon jin

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