Apple Inc. continues to impress as it reported knockout fiscal third-quarter financial results this week, proving that despite a sagging global economy, consumers continue to purchase its iconic products.
The Cupertino, Calif.-based computer and electronics maker said net income rose 15 percent from last year, to $1.23 billion, or $1.35 per share. Revenues for the quarter rose 12 percent to $8.34 billion. All of these measurements exceeded the company’s performance during the same quarter in 2008.
Product sales were strong across all fronts. Apple sold 2.6 million units of Macintosh computers, 10.2 units of iPod personal music players, and 5.2 million units of iPhone smartphones. The results for all product segments blew away analyst expectations.
“We’re making our most innovative products ever and our customers are responding,” Steve Jobs, Apple’s CEO, said in a statement. “We’re thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year.”
The Apple results were unsurprising given its history of giving conservative financial projections. But the company’s sales of the iPhone were nevertheless impressive—its latest model, the 3GS, went on sale last month.
Popularity of its iPhone has been well-documented. First launched in the summer of 2007, the iPhone supports tens of thousands third-party applications and games.
“Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion and we expect diluted earnings per share in the range of about $1.18 to $1.23,” said CFO Peter Oppenheimer, in a statement.
CEO Steve Jobs returned to work in June after a six month absence due to health reasons. At the time, some analysts were concerned for a lack of direction at Apple during Jobs’ absence, but it turned out that the company did just fine without him.
The Cupertino, Calif.-based computer and electronics maker said net income rose 15 percent from last year, to $1.23 billion, or $1.35 per share. Revenues for the quarter rose 12 percent to $8.34 billion. All of these measurements exceeded the company’s performance during the same quarter in 2008.
Product sales were strong across all fronts. Apple sold 2.6 million units of Macintosh computers, 10.2 units of iPod personal music players, and 5.2 million units of iPhone smartphones. The results for all product segments blew away analyst expectations.
“We’re making our most innovative products ever and our customers are responding,” Steve Jobs, Apple’s CEO, said in a statement. “We’re thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year.”
The Apple results were unsurprising given its history of giving conservative financial projections. But the company’s sales of the iPhone were nevertheless impressive—its latest model, the 3GS, went on sale last month.
Popularity of its iPhone has been well-documented. First launched in the summer of 2007, the iPhone supports tens of thousands third-party applications and games.
“Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion and we expect diluted earnings per share in the range of about $1.18 to $1.23,” said CFO Peter Oppenheimer, in a statement.
CEO Steve Jobs returned to work in June after a six month absence due to health reasons. At the time, some analysts were concerned for a lack of direction at Apple during Jobs’ absence, but it turned out that the company did just fine without him.
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