Technology content trusted in North America and globally since 1999
8,228 Reviews & Articles | 62,373 News Posts

Apple Revenue Soars Despite Poor Economy

Best March revenue and earnings ever
By: Zac O'Vadka | Business, Financial & Legal News | Posted: Apr 23, 2009 4:46 am

Apple just posted its financial results for the second quarter of 2009 and it appear Apple is one of the few companies that are beating the recession.


Apple Revenue Soars Despite Poor Economy


Apple posted revenue of $8.16 billion and a net quarterly profit of $1.21 billion. That works out to be $1.33 per diluted share. Compared to last year, both revenue and profit were higher making this Apple's best March quarter in the history of the company.


Apple success can easily be attributed to its continued success with the iPod and iPhone. The iPod sold 11.01 million units during the quarter which is a 3% growth. However the big winner is the iPhone which sold 3.79 million units which represents a 123% growth over the same quarter last year.


"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Peter Oppenheimer, Apple's CFO. "Apple's financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about $.95 to $1.00."


Related Tags

Got an opinion on this news? Post a comment below!