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Apple reports record quarter boosted by iPad and iPhone

Warwick Ashford

Apple has announced a record fiscal 2010 quarter ending 26 June and is predicting record-breaking revenues for the next quarter.

Revenue for the quarter totalled $15.7bn (£10.2bn), up from $9.73bn in the same quarter in 2009 and net quarterly profit was $3.25bn, up from $1.83bn a year ago.

The quarter included the launch of Apple's iPad, which the company said has sold 3.27 million units worldwide and accounts for 52% of the quarter's revenue.

Apple also sold 8.4 million iPhones in the quarter, a 61% increase over the same period in 2009.

Analysts earlier this week predicted that demand for Apple shares and iPhones will remain high despite widely-reported problems with the antennae design of the iPhone 4.

They also predicted that third-quarter sales would beat expectations of $14.6bn and said that if Apple's margins can survive the antenna debacle, the cost of supplying cases and a severely stretched supply chain, sales of iPad accessories sales will restore balance.

Steve Jobs, Apple chief executive, described the iPhone 4 launch as the most successful in the company's history.

He said the iPad was off to terrific start, more people are buying Macs than ever before, and he hinted that Apple had some more new products to come this year.

"We're really pleased to have generated over $4bn of cash during the quarter," said Apple CFO Peter Oppenheimer, adding that the company had generated over $4bn in cash in the past quarter.

"Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18bn," he said.


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