Apple’s profit jumps as sales skyrocket
Apple’s sales jumped to $15.7 billion this quarter, up from $9.7 billion last year, as new products hit shelves.
Net profit increased to £3.2 billion from £2.05 billion in the same quarter last year.
Antennae concerns didn’t seem to hurt sales of the Apple iPhone, with the firm shifting 8.4 million this quarter, up 61% from the same period last year.
We have amazing new products still to come this year
Apple sold 3.27 million iPads following the tablet’s launch earlier this year, and also increased Mac sales by 33% to 3.47 million. iPod sales continue to slide, falling 8% to 9.41 million.
“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said CEO Steve Jobs. “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, Apple’s chief financial officer, expects sales to continue to grow. “Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion.”
That prediction is well ahead of analysts’ expectations. “This is one of the few times in recent memory that Apple’s guidance has been ahead of [Wall Street], at a time when investors were getting concerned the iPhone 4 antenna issues could hamper sales,” Oppenheimer & Co analyst Yair Reiner told Reuters. “Apple’s sending a strong signal it sees things differently.”