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Apple Posts Record Profit

18 Jan, 2011 By: Chris Tribbey

Apple Jan. 18 posted a record quarterly profit of $6 billion, on revenue of $26.75 billion, for the three months ended Dec. 25.

For the same first fiscal quarter of 2010, Apple reported a profit of $3.38 billion on revenue of $15.68 billion.

“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” Apple CEO Steve Jobs said. “We are firing on all cylinders, and we’ve got some exciting things in the pipeline for this year, including iPhone 4 on Verizon, which customers can’t wait to get their hands on.”

The day before the quarterly results were announced, Jobs said he would take a leave of absence due to poor health.

Apple sold 4.13 million Macs, 16.24 million iPhones, 19.45 million iPods and 7.33 million iPads during the quarter.

“We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.”

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