Apple sells 1.7 million iPhones


24 Apr 2008

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Apple said last night that sales of its eponymous iPhone device have had a meaningful impact on its latest second-quarter financial results with 1.7 million iPhones sold between January and March.

For its second-quarter results, Apple reported revenues of US$7.5bn, up from US$5.2bn a year ago.

The company reported a profit of US$1bn, up from a net quarterly profit of US$770m during the same quarter last year.

We’re delighted to report 43pc revenue growth and the strongest March quarter revenue and earnings in Apple’s history,” said Apple chief executive, Steve Jobs.

“With over US$17bn in revenue for the first half of our fiscal year, we have strong momentum to launch some terrific new products in the coming quarters,” Jobs said.

During the second quarter, Apple shipped 2.2 million Macintosh computers, driving a 54pc revenue growth in this business.

However, there are indications that sales of the iPod media device may be beginning to flatten with the 10.6 million devices sold representing just a 1pc unit growth but 8pc revenue growth on last year.

“We’re thrilled to have generated US$4bn in cash flow from operations in the first half of fiscal 2008, yielding an ending cash balance of US$19.4bn,” said Peter Oppenheimer, Apple’s chief financial officer.

“Looking ahead to the third quarter of fiscal 2008, we expect revenue of about US$7.2bn and earnings per diluted share of about US$1,” Oppenheimer said.

By John Kennedy