Apple Posts Record Quarterly Profit21 Jan, 2009 By: Chris Tribbey
A worldwide recession isn’t causing any apparent problems for Apple, which Jan. 21 posted record quarterly revenue and profit.
The computer company made $10.17 billion during the three-month period ended Dec. 27, with a profit of $1.61 billion. Those figures are compared to $9.6 billion in revenue and $1.58 billion in profit during the same period in 2007.
The first-quarter results come amid speculation about the health of CEO Steve Jobs, who has taken a leave of absence until this summer. The Securities and Exchange Commission announced the same day that it would review disclosures about Jobs’ health to see if investors were misled. Bloomberg News recently reported that Jobs, a survivor of pancreatic cancer, is a considering a liver transplant.
“[Apple] generated over $3.6 billion in cash during the quarter,” Apple CFO Peter Oppenheimer said of the results. “Looking ahead to the second fiscal quarter of 2009, we expect revenue in the range of about $7.6 billion to $8 billion.”
Apple does not share profit figures for iTunes TV and movie sales. However, COO and acting CEO Tim Cook said in a conference call with investors that iTunes movie sales helped improve the overall sales of Apple TVs during the quarter.
Apple sold more than 2.5 million computers, nearly 23 million iPods and more than 4.3 million iPhones during the quarter.