Log in

Strong iTunes Music, Movie Sales Boosts Apple’s Q1

22 Apr, 2009 By: Chris Tribbey

Apple Inc. reported a remarkable fiscal second-quarter performance April 22, with profits of $1.21 billion, up from $1.05 billion during the same period in 2008.

Strong international sales helped make up for a 3% decline in the number of Mac computers sold in the first quarter (2.22 million). More than 11 million iPods and nearly 4 million iPhones were sold during the quarter.

“We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history,” said CFO Peter Oppenheimer. “Apple’s financial condition remains very robust. … 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.”

During a conference call with investors, Oppenheimer said the company has seen “strong sales” of iTunes music and movies, and reported an uptick in music sales since Apple and the music companies switched to a tiered pricing system April. 7. Before offering songs for 69 cents, 99 cents and $1.29, every song was 99 cents.

As for CEO Steve Jobs — who took a leave of absence from the company earlier this year to deal with health problems — Oppenheimer said, “We look forward to Steve returning at the end of June.”

Add Comment