iPhone sales bolster Apple Q3 results
Posted July 23, 2009on:
Apple yesterday reported a strong growth in quarterly profit and revenue, boosted by sales of more than 5.2 million iPhones during the period. Revenue came in at US$8.34 billion for its fiscal third-quarter (ending June 27, 2009), compared to US$7.46 billion in the year-ago quarter, whilst profit was up 15 percent at US$1.23 billion.
The company’s gross margin was 36.3 percent, up from 34.8 percent a year earlier. Its iPhone sales represented a 626 percent unit growth over the year-ago quarter and helped offset a seven percent decline in iPod sales.
“We’re making our most innovative products ever and our customers are responding,” said Steve Jobs, Apple’s CEO, who only recently returned to work after six months medical leave. “We’re thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year.”
Apple’s latest quarter was one where it released a new, faster, version of its iPhone (pictured) and halved the price on an older model to US$99. Apple’s results were even better than had been expected, especially in light of the recession, with the company’s stock up 4.5 percent at US$158.39 in late trading yesterday. “Times are tough. Apple continues to post pretty strong numbers,” Shaw Wu, an analyst for Kaufman Bros., told AP News. “It’s pretty incredible. It truly is.” Apple said it expects revenue in the range of about US$8.7 billion to US$8.9 billion in the fourth fiscal quarter of 2009, with diluted earnings per share in the range of about US$1.18 to US$1.23.
Source: Mobile Business Briefing, GSMA