Apple Revenue Up But Profits Down 6 Per Cent

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Apple’s revenue grew 43 per cent for the second quarter ended March 29. However the company says its profits declined to 32.9 per cent from 35.1 per cent a year ago.


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The company shipped 2.3 million Macs in the quarter ended March 29, a 51 per cent increase over the same period a year ago and revenues increased 54 per cent accordingly.


Moreover Apple shipped over 10.6 million iPods, a 1 per cent increase from a year ago; while revenue from the portable media players rose by 8 per cent. The company says it also shipped 1.7 million iPhones in the quarter, which brought the total number of iPhones sold since its release last summer to 5.7 million.
 
“We’re delighted to report 43 per cent revenue growth and the strongest March quarter revenue and earnings in Apple’s history,” Apple chief executive Steve Jobs said in a statement.

 

Apple’s shares plummeted during the first few months of the year on concerns that its relatively expensive products could suffer because of softening consumer spending, but they have rebounded more than 30 per cent since the beginning of March as those concerns proved hollow, and investors became more bullish about the prospects for future Apple products, including new iPhones.


Analysts note that Apple’s business is benefiting from several factors, including a range of sleek desktops and laptops which can now also easily run Microsoft’s Windows operating system, which has helped Apple in a long-running campaign to persuade Windows users to switch to Macs.

 

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