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Record profits for Apple

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Profits up at Apple

Apple has announced record profits fuelled by rising sales of the Mac, iPhone and iPad.

In its first-quarter results, the company posted a record net quarterly profit of $6 billion (£3.75 billion), up an astonishing 78 per cent on a year earlier. Revenue increased by 71 per cent to £16.71 billion over the same period.

Steve Jobs statement

Apple’s financial report also included a statement from Steve Jobs. This will come as a surprise to many because, earlier this week, the company’s chief executive officer told staff that he would be taking indefinite leave owing to health problems. Mr Jobs also took six months off in late 2008 to mid 2009 for medical reasons. But Apple’s latest press release – the first since news of his departure broke – makes no mention of Mr Job’s health problems.

“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Mr Jobs. “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 hold of.”

Over the last 12 months, Apple has reaffirmed its position at the forefront of the technology sector. Spring saw the successful launch of the iPad in the US, while the iPhone 4 followed shortly after. This year, Apple is hoping to build on that success with the unveiling of the iPad 2, the iPhone 5 and the new MacBook Air (pictured).

Here is a breakdown of sales for Apple’s key products in the first quarter of 2011:


Product Global sales YoY Growth
Mac 4.13m 23%
iPhone 16.24m 86%
iPod 19.45m -17%
iPad 7.33m N/A

Written by Richard Frost

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