iPhone off to good start as Apple posts US$818m profit

26 Jul 2007

Apple last night posted the highest June quarter revenue in the company’s history with sales of US$5.41bn and a quarterly profit of US$818m.

The results delivered a return of US$0.92 per share.

“We’re thrilled to report the highest June quarter revenue and profit in Apple’s history, along with the highest quarterly Mac sales ever,” said Steve Jobs, Apple’s CEO.

“iPhone is off to a great start–we hope to sell our one-millionth iPhone by the end of its first full quarter of sales–and our new product pipeline is very strong.”

During the quarter Apple shipped 1.76bn Macintosh computers, up 33pc on the year and exceeds the previous quarterly record of Mac shipments by over 150,000.

The company also sold 9.8m iPods during the quarter, up 21 pc on last year.

“We are very pleased to report strong financial results including cash flow from operations exceeding $1.2 billion for the quarter,” said Peter Oppenheimer, Apple’s CFO.

“Looking ahead to the fourth fiscal quarter of 2007, we expect revenue of about $5.7 billion and earnings per diluted share of about $.65,” Oppenheimer said.

By John Kennedy