Apple made a staggering $7.31 billion profit in the three months to June 25, more than double the $3.2 billion it made over the same period last year, according to its latest financial results.
Sales revenue rose almost 82 per cent to $28.57 billion, driven by an 183 per cent increase in iPad sales, with the company selling 9.25 million tablets during the quarter. Sales of iPhones also sharply increased, with 20.34 million units sold, a rise of 142 per cent year on year.
While sales of Mac computers and iPods fell by 14 and 20 per cent respectively, CEO Steve Jobs hailed the results as "our best quarter ever" and said Apple was "focused and excited about bringing iOS 5 and iCloud to our users this fall." The company is projecting revenue of $25 billion during the current quarter, and is expecting a boost in Mac sales thanks to its new operating system, OS X Lion.
Speaking during an earnings call reported by VentureBeat, Apple COO Tim Cook highlighted the firm's growing popularity in China, with revenue growing by over 500 per cent year on year to $3.8 billion. "This has been a substantial opportunity for Apple and I believe we are just scratching the surface right now," he said.
The stunning results were even in excess of internal expectations: after announcing Apple's second-quarter results in April, CFO Peter Oppenheimer projected third-quarter revenue of $25 billion. In the end, the firm beat that target by over 14 per cent.
Comments
2Apple are doing a fantastic job, simple as that. Someone pointed out to me a few months ago, that with the cash Apple currently have, they could actually do a hostile takeover of EA, Sony, Nintendo & Microsoft and essentially buy the games insustry, if they so choose.
I knew they were doing well, but I didn't know it was quite that well! Some people have been wanting a unified console industry for years, but I guess the monopolies agencies of the world may have something to say about that. Probably puts the willies up those companies though, which is no bad thing!