Apple revels in billion dollar quarterly profit

Company boasts best non-holiday quarterly revenue and earnings in Apple history

Tags: Apple IncorporatedFoxconn Technology GroupIPhoneIPodUSA
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Apple revels in billion dollar quarterly profit Company boasts best non-holiday quarterly revenue and earnings in Apple history. (Shutterstock)
By  Vineetha Menon Published  July 23, 2009

Apple has escaped the murky financial slump other technology companies are facing to post record earnings this quarter.

The company announced a profit of $1.23 billion and revenues of $8.34 billion for their third quarter (ending June 27th), making it the best non-holiday quarterly revenue and earnings in Apple’s history.

Apple witnessed a slight decline (7%) in iPod sales but did well with its Mac computers (+4%) this quarter compared to last year. The iPhone has been the biggest surprise however with Apple managing to sell 5.2 million units to reflect a 626% growth to year-ago quarter figures.

“We’re extremely pleased to report record non-holiday quarter revenue and earnings and quarterly cash flow from operations of $2.3 billion,” said Peter Oppenheimer, Apple’s CFO, with the company revealing that international sales accounted for 44% of the quarter’s revenue.

“Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion and we expect diluted earnings per share in the range of about $1.18 to $1.23,” Oppenheimer added.

Apple has also been in the news lately after it was revealed that young Foxconn employee killed himself after losing one of the new iPhone 4G prototypes that he was entrusted to ship to Apple. Foxconn, the company’s manufacturing partner in China, had reportedly been questioning him about the missing device.

Apple told CNET recently that it was "saddened by the tragic loss of this young employee" and were awaiting results of the investigations, which have already seen a Foxconn security official suspended for his involvement in the incident.

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