Apple profits up 77% following new launches

Apple has reported record revenue of $15.7bn for its fiscal 2010 third quarter, ending 26 June, with Mac, iPhone and iPad sales helping to drive the company's profits up 77%.

The technology giant recorded net quarterly profit of $3.25bn, up from $1.83bn on the equivalent quarter in 2009. Revenue was also up 61% from $9.73bn.

Apple said international sales accounted for 52% of the quarter's revenue.

The company shifted 3.47 million Macs during the quarter, a new record, and a 33% increase on the same period last year. It also sold 8.4 million iPhones, a 61% increase.

However, although Apple sold 9.41 million iPods, this was an 8% year-on-year decline. The company also began selling iPads during the quarter, which achieved total sales of 3.27 million.

Steve Jobs, chief executive at Apple, said: "It was a phenomenal quarter that exceeded our expectations all round, including the most successful product launch in Apple's history with iPhone 4.

"IPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year."

Peter Oppenheimer, chief financial officer at Apple, said the company expected continued growth.

He said: "Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18bn and we expect diluted earnings per share of about $3.44."

Published by: Joe Thomas

Published 21st July, 2010

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