Record iPhone sales help Apple double profits to £4.52bn


Apple records record profits of $7.3 billion off the back of strong iPhone and iPad sales, and hints at September release for next iPhone

Apple has recorded record profits of $7.3 billion (£4.52 billion) in its third quarter ending June 25, up 125 per cent from $3.25 billion (£2 billion) during the same period a year ago.

Revenues rose 82 per cent to $28.5 billion (£17.7 billion), up from $15.7 billion (£9.7 billion) in the same quarter of 2010. The firm’s gross profit margin rose slightly from 39.1 percent a year ago to 41.7 per cent during the quarter.

iPhone sales rose 142 per cent year-on-year during the quarter to reach 20.34 million, and the firm sold 9.25 million iPads, an increase of 183 per cent compared to the previous quarter.

Apple also hinted at the imminent release of the new iPhone, referring to a product “transition” coming up in September.

Apple CFO Peter Oppenheimer said:“Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50.”

Sales of Mac computers were up 14 per cent to 3.95 million. However, sales of the iPod continued their decline, falling 20 per cent to 7.54 million.

Apple also said that 62 per cent of its sales came from international sales.

Apple CEO Steve Jobs (pictured) said in a statement: “We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”