Apple posts healthy profit growth

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Apple posts healthy profit growth

Cliff Saran

Apple revenue grew 35% year-over-year to $9.6bn, an increase of almost $2.5bn, according to its first quarter 2009 results posted today.

The Company posted revenue of $9.6bn and net quarterly profit of $1.58bn, or $1.76 per diluted share. These results compare to revenue of $7.1bn and net quarterly profit of $1bn, or $1.14 per diluted share.

Shipments of the Apple Mac, which celebrates its 25th anniversary later this week, rose 44% to 2,319,000. Quarterly iPhone sales were 2,315,000.

The company has been pushing the iPhone as a smartphone alternative to Research in Motion's Blackberry device for the mobile enterprise. Several enterprise companies including Salesforce.com have developed add-ons to their enterprise suits that allow iPhone users to access enterprise data.

However, earlier this week Bernstein Research analyst Toni Sacconaghi warned that all might not be well at Apple. "Near-term data points may not be encouraging, given the lack of new products at MacWorld and Apple's refusal to cut prices and the recent degradation in CEO Steve Jobs' health situation clearly casts some uncertainty on the company's future."


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