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Apple third quarter profits exceed $3 million

4:50pm GMT, Wednesday, 21 July 2010

Apple has announced its quarterly financial results showing strong net profits. Apple has announced its quarterly financial results showing strong net profits.

Apple has beaten Wall Street forecasts by earning a net profit of $3.25 billion in the three months ending 26 June.

According to the company, the quarterly net income of $3.25bn (£2.1bn), or $3.51 a share, is up from $1.83bn profit recorded in that same period last year.

Comparing the three months to the end of June this year and last year, Apple’s revenues rose from $9.73bn to $15.7bn, far outstripping analysts’ predictions of $14.75bn.

The news will come as a relief for investors after concern about Apple’s reputation since the launch of the new iPhone 4.

Apple’s profit figures were significantly boosted by the sales of Mac computers. The company sold 3.47 million Macs in the three months, which is 33% better than the same time last year. 

The results show that international sales helped Apple’s profits and accounted for 52% of the quarter’s revenue.

Apple sold 8.4 million iPhones, up 61% from the year-ago quarter, and sold 9.41 million iPods.

Steve Jobs, Apple’s CEO, said: “It was a phenomenal quarter that exceeded our expectation all around, including the most successful product launch in Apple’s history with iPhone 4.

“iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

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