Apple Profits Rocket By 78 Per Cent Despite iPhone 4 Problems

X

Apple has defied the market, given a two finger salute to the media and delivered a 78 per cent jump in quarterly profits. Fresh from defending problems with their iPhone 4 Apple has delivered revenues of US $15.7 Billion, shares in Apple rose 2.5 per cent on the news.

During the past 3 months the company has sold 3.3 million iPads and 8.4 million iPhones.

The company is also bullish about the current quarter, despite antenna problems with their new iPhone 4.

Apple’s revenue in the quarter ended June 26 rose 61 per cent to $15.7 billion.

Chief Executive Steve Jobs, who on Saturday was slam dunking his competitors mobile phone offering, said in a press release that the results as “phenomenal” and promised that Apple had “amazing new products still to come this year.”

Apple is selling iPads and iPhones “as fast as we can make them” and “working around the clock to try to get supply and demand in balance,” Tim Cook, the company’s operating chief, said on a conference call with the Wall Street Journal.

He said the company hadn’t seen any decline in iPhone 4 demand because of antenna problems. “My phone is ringing off the hook from people that want more supply,” Mr. Cook said according to the WSJ.

Research company iSuppli is now tipping iPad sales in 2010 to climb to 12.9 million from 7.1 million, saying the only limitation was production capacity, not demand. 

While analysts were also concerned that consumers might hold off buying iPhones in the quarter until the iPhone 4 was released, Apple sold 8.4 million iPhones during the period, up 61 per cent from a year ago.

Overall, the Cupertino, Calif., company posted a fiscal third-quarter profit of $3.25 billion, or $3.51 a share, compared with $1.83 billion, or $2.01 a share a year earlier. Apple reported gross margin of 39.1 per cent, down from 40.9 per cent a year ago.

GOTHAM 728px x 90px Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
JBL TourPro3 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
728 x 90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Hisense KV BannerAd 728 90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Westan 728x90px Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Marshall 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
FA 979 HN MDF SG14 14gen 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
728X90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Flick of a switch 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
ELX DIG Crosscat Promo 728x90 Mar25 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Arlo EOFY25 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
BlueAnt 4SQM PumpAirUltra 728x90px Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
hitachi banner 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
241211 SAV Ruark CNewsJan Leader Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
ChannelNews AZ100 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Px7 S3 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
AU X8 Banner 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Uniden Channelnews SoloX July 2024 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
Skullcandy 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
BEL2535 BPB024 4SQ Banners 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
MaxRanger4K Leaderboard 728x90 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems
HAIER Series 600 FLW HPD Pairs 728x90 1 Apple Profits Rocket By 78 Per Cent  Despite iPhone 4 Problems


YOU MAY ALSO LIKE