Apple profits up 50%, iPhone boosts sales
Apple profits up 50% as iPhone boosts sales
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By Darren Estwick. |  |
Tuesday, 26, Jan 2010 11:17
By Sarah Garrod
Profits at Apple soared 50 per cent in the final quarter of 2009, the company announced today.
The iPhone-maker said quarterly profits hit $3.38 billion (£2.08 billion ), up from $2.26 billion (£1.39 billion) for the same period in 2008.
Some 8.7 million iPhones were sold in the last three months of 2009, while iPod sales fell, possible due to the inclusion of the same software on the iPod.
"If you annualise our quarterly revenue, it's surprising that Apple is now a $50+ billion company," said Steve Jobs, Apple's chief executive.
"The new products we are planning to release this year are very strong, starting this week with a major new product that we're really excited about."
Apple is expected to launch its as-yet unnamed tablet computer this month, which is hoped to follow in the success of the iPhone and the iPod.
"We are very pleased to have generated $5.8 billion in cash during the quarter," said Peter Oppenheimer, Apple's chief financial officer.
"Looking ahead to the second fiscal quarter of 2010, we expect revenue in the range of about $11.0 billion to $11.4 billion and we expect diluted earnings per share in the range of about $2.06 to $2.18."