Apple reports record sales for second quarter


Apple reports record sales for second quarter

Antony Savvas

Apple has posted record second-quarter results, with sales up 43% year-on-year.

For the quarter ended 29 March, the company saw sales jump to £3.75bn, with net profits of £525m, up from £385m last yea.

Gross margins were down, however, at 32.9%, compared with 35.1% last year.

"We are delighted to report 43% revenue growth and the strongest March quarter revenue and earnings in Apple's history," said CEO Steve Jobs.

"With over £8.5bn in revenue for the first half of our fiscal year, we have strong momentum to launch new products in the coming quarters."

Apple started shipping the iPhone to the UK market last November, and recently announced a price cut on the basic model.

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