Apple reports 90% increase in profit


Apple reports 90% increase in profit

Warwick Ashford

Apple has reported 2010 second fiscal quarter revenue of $13.5bn and net quarterly profit of $3.07bn, a 90% increase in profit compared with the year before.

Gross margin was 41.7% for the quarter ending 27 March, up from 39.9% for the same period the previous year.

Apple sold 2.94 million Macintosh computers during the quarter, representing a 33% increase over the same quarter a year ago.

iPhone sales were up 131% to 8.75 million units, but iPod sales slid 1% compared with last year to 10.89 million units.

"We are thrilled to report our best non-holiday quarter ever, with revenues up 49% and profits up 90%," said Steve Jobs, Apple's chief executive.

"We have launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year," he said.

Analysts said Jobs was most likely referring to a new version of the iPhone, which could be released as early as June.

Peter Oppenheimer, Apple's chief financial officer, said the company expects a good third fiscal quarter with revenue in the range of $13bn to $13.4bn.

Apple share prices rose more than 5% in after-hours trading.

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