Healthy results
Computer and consumer electronics giant Apple has exceeded analyst expectations by posting record revenue of $10.17 billion and record net quarterly profits of $1.61 billion.
This is especially surprising given the presumed negative effect on spending of the global recession, especially on the kind of premium priced items Apple specialises in.
"Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history-surpassing $10 billion in quarterly revenue for the first time ever," said Steve Jobs, Apple's CEO.
Among the highlights for Apple were iPods, of which a record 22,727,000 were sold and iTunes. The iPhone showed 88 percent unit growth year-on-year.
"Our outstanding results generated over $3.6 billion in cash during the quarter," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the second fiscal quarter of 2009, we expect revenue in the range of about $7.6 billion to $8 billion and we expect diluted earnings per share in the range of about $.90 to $1.00."
In subsequent questions, COO Tim Cook wouldn't specifically address questions about Steve Jobs' health, but stressed that there are loads of other talented people at Apple...
Apple shares closed up over five percent yesterday at $82.83 and were up almost ten percent more in after hours trading.
