Apple reports record profits


Apple has reported its most profitable quarter ever, with a $1.67 billion (£1 billion) profit for the quarter ending September 26, selling 7.4 million iPhones in the period.

The Californian company also posted revenue of $9.87 billion, compared with revenue of $7.9 billion and net quarterly profit of $1.14 billion in the same period last year. Gross margin was 36.6 per cent, up from 34.7 per cent in the same period last year. International sales accounted for 46 per cent of the quarter’s revenue.

Apple’s 7.4 million iPhone sales in the quarter represents seven per cent growth from the same quarter a year ago. However, iPod sales are eight per cent down, at 10.2 million. Apple also sold 3.05 million Macintosh computers, representing a 17 per cent increase from the same quarter last year.

Apple chief executive Steve Jobs (pictured) said: “We are thrilled to have sold more Macs and iPhones than in any previous quarter. We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.”

Apple is said to be developing new iPhone form factors, and there is widespread talk of the upcoming release of an internet tablet-style device.

Apple chief financial officer Peter Oppenheimer has forecasted further growth, adding: “We are delighted with our September quarter and fiscal 2009 results

“For the full year, we grew revenue by 12 per cent and net income by 18 per cent in extraordinarily challenging times. Looking ahead to the first fiscal quarter of 2010, we expect revenue in the range of about $11.3 billion to $11.6 billion.”