Apple posts best quarterly profit

Apple sold 88% more iPhones than in the same quarter the previous year

Apple has posted strong quarterly results that beat analysts' expectations and proved the company's resilience to the economic downturn.

The technology giant made a record net profit of $1.61bn (£1.15bn) and posted record revenue of $10.7bn for the quarter to the end of December.

Apple sold more than 22 million iPods and more than four million iPhones.

But the company warned that revenue could fall significantly in the first three months of 2009.

For the same quarter the previous year, Apple's profit was $1.58bn and its revenue was $9.6bn.

It was a great quarter and better than most people expected

Yair Reiner


"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history - surpassing the $10bn in quarterly revenue for the first time ever," said Apple boss Steve Jobs.

Increased sales

The company saw sales increase right across its main product ranges.

It sold 2,524,000 Macintosh computers during the three months, up 9% on the last three months of 2007.

It also sold 22,727,000 iPods, 3% up on the previous year's quarter.

Finally, it sold 4,363,000 iPhones, 88% more than in the final quarter of 2007.

However, Apple expects revenue to fall significantly over the next three months.

"Looking forward... we expect revenue in the range of about $7.6bn to $8bn," said Peter Oppenheimer, Apple's chief financial officer.

"It was a great quarter and better than most people expected," said Yair Reiner, analyst at Oppenheimer.

The results come after reports that Apple faces a review by the US Securities and Exchange Commission to check that its recent disclosures about Steve Jobs's health did not mislead investors.

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