Tags : AAPL, aapl earnings, aapl stock, Apple
Apple bucks recession, reports 15% increase in earnings
Apple announced its financial results for the fiscal 2009 third quarter today, bucking market expectations with a 15% increase in earnings.
Apple posted revenue of $8.34 billion and a net quarterly profit of $1.23 billion, or $1.35 per diluted share, compared to revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share for the same quarter of 2008. Gross margin was 36.3 percent, up from 34.8 percent in the year-ago quarter.
The break down of the sales figures is just as impressive. Apple sold 2.6 million Macs during the quarter, representing a 4% increase over the same quarter last year. Quarterly iPhones sold were 5.2 million, representing 626 percent unit growth over the year-ago quarter, however the ongoing success of the iPhone is eating away at iPod sales which saw a 7% decrease to 10.2 million units.
Apple CEO Steve Jobs said in a statement that “We’re making our most innovative products ever and our customers are responding. We’re thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year.”
AAPL shares surged 4.41% in after hours trading to $158.29.
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