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April 22, 2009

IPhone boosts Apple profits

Smartphone sales up 123%

By Steve Evans

Apple has shrugged off worries over the recession to post impressive fiscal 2009 second quarter results. The gadget company posted revenue of $8.16bn (£5.6bn) and a net quarterly profit of $1.21bn (£830m).

These results compare to revenue of $7.51bn (£5.15bn) and net quarterly profit of $1.05bn (£720m) for the same period a year previously. The profit represents a 15% year on year rise for the Cupertino, California-based company.

The financial figures were boosted by impressive sales of Apple’s iPhone device. Sales of the touchscreen smartphone were 3.79 million for the quarter – up 123% from the same period a year ago.

Sales figures for the iPod, Apple’s MP3 player, were also up. Unit sales of 11.01 million represented 3% year on year growth. Sales of Macintosh computers fell 3% to 2.22 million.

“We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history”, said Peter Oppenheimer, Apple’s CFO. “Apple’s financial condition remains very robust, with almost $29bn in cash and marketable securities on our balance sheet.”

Oppenheimer added that the company expects revenue for the next quarter to be in the range of $7.7bn to $7.9bn.

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