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Business

Apple posts best ever 'non-holiday' quarter

Latest update : 2009-04-23

Technology giant Apple announced that its profit grew 15 percent to $1.2 billion dollars for the second quarter of 2009. A result, boosted by iPhone sales, that exceeded the company's forecast and became the best ever "non-holiday" quarter.

AFP - Apple reported its best second quarter ever on Wednesday with net profit growing 15 percent to 1.2 billion dollars, largely on strong sales of the iPhone.
  
The iconic California company reported revenue of 8.16 billion dollars in the three months which ended on March 28, up from 7.51 billion dollars in the corresponding quarter a year ago.
  
That exceeded Apple's own forecasts of 7.9 billion dollars to 8.0 billion dollars and was better than the 7.96 billion dollars expected by Wall Street analysts.
  
Earnings per share of 1.84 dollars were well above the 1.09 dollars expected by analysts.
  
The Cupertino, California-based Apple said it sold 2.22 million Macintosh computers during the quarter, down three percent from a year ago.
  
It sold 11.01 million iPods, up three percent from a year ago.
  
Sales of iPhones, meanwhile, soared 123 percent during the quarter to 3.79 million.
  
"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," Apple chief financial officer Peter Oppenheimer said in a statement.
  
"Apple's financial condition remains very robust, with almost 29 billion dollars in cash and marketable securities on our balance sheet," he said.
  
Apple released a typically cautious forecast for the current quarter.
  
"Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about 7.7 billion dollars to 7.9 billion dollars and we expect diluted earnings per share in the range of about 0.95 cents to 1.00 dollars," Oppenheimer said.
  
He also said that chief executive Steve Jobs, who went on a leave of absence in January for health reasons, was expected to return as scheduled at the end of June.
  
"We’re looking forward to Steve returning at the end of June," Oppenheimer said in a conference call with analysts which followed the release of Apple's results.
  
Apple announced on January 14 that Jobs, 54, the visionary behind the culture-changing Macintosh, iPod and iPhone, would be taking a leave of absence.
  
Apple has been notoriously secretive about Jobs's health since he underwent an operation in 2004 for pancreatic cancer.
  
Apple gained 2.30 percent to 124.30 dollars in after-hours electronic trading in New York following the release of the results.

Date created : 2009-04-23

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