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Apple profits up 15 per cent (again)

5.2 million iPhones sold

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The global economic Meltdown may be tightening belts worldwide, but they're not feeling the squeeze in Cupertino.

Apple announced Tuesday that its third fiscal 2009 quarter, which ended on June 30th, saw the company's year-on-year quarterly revenue rise to $8.34bn and its net quarterly profit to $1.23bn. That's up from $7.46bn and $1.07bn in the same quarter last year, an increase in profits of a hair under 15 per cent.

Apple's previous quarter wasn't too shabby either. It saw an increase in profits of 15.2 per cent, year-on-year, with revenue of $8.16bn and net income of $1.05bn.

The numbers don't lie: Apple is on a roll.

Perhaps Apple's numbers reflect what Intel's CEO Paul Otellini suggested during his company's earnings report last week: that the industry is beginning to benefit from "improving conditions in the PC market segment."

That certainly seems true for such tech-industry big boys as Otellini's Intel and Google, which reported that their recent quarters had seen a $1bn pre-EU-fine profit and a $1.48bn profit, respectively.

Apple quarterly numbers were juiced by a 2.6 million Macs sold during the quarter, a four per cent increase over those of the same quarter last year.

Sales of the iPhone increased as well, with 5.2 million sold during the quarter. That's a 626 percent unit growth over the year-ago quarter, even though the iPhone 3GS didn't hit the market until June 19th, less than two weeks before the quarter's end.

It's introduction, it appears, has been a success - so much so that Apple says over a million were sold in its first weekend of its availability.

Peter Oppenhimer, Apple's CFO, projects that the good times will continue to roll. "We’re extremely pleased to report record non-holiday quarter revenue and earnings and quarterly cash flow from operations of $2.3 billion," he said in a canned statement. "Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion." ®

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