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Appleâ€™s net profit rises by 67%

21 April 2010 09:04 (UTC +04:00)

Baku â€“ APA-Economics. Apple April 20 reported a fiscal 2010 second-quarter profit of $3.07 billion, thanks to higher sales of its iPhones and its computers, Home Media Magazine reported.

For the three months ended March 27, the company posted revenue of $13.5 billion, up from revenue of $9.08 billion during the same period of 2009. Profit during the second fiscal quarter of 2009 was $1.62 billion.

The company also reported its best-ever quarter for the iTunes store, with revenue of $1.1 billion. The company did not break out how much of the revenue was made from video content but did note that it has passed the 10 billion mark for songs purchased and downloaded from the store.

â€œWeâ€™re thrilled to report our best non-holiday quarter ever, with revenues up 49% and profit up 90%,â€ said Steve Jobs, Appleâ€™s CEO, in a statement. â€œWeâ€™ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year.â€

Following the first full day of its release (April 3), Apple reported it had sold more than 300,000 iPads. During a conference call with investors April 20, Apple chief operating officer Tim Cook said demand for the tablet device was â€œmuch, much stronger than we predicted.â€

For the quarter Apple sold 2.94 million computers, a 33% increase from the same quarter of 2009. Sales of iPhones were up 131% to 8.75 million. The company also reported it had sold 10.89 million iPods, up 1%. Cook said Apple holds a 70% market share for MP3 players.

For the fiscal third quarter, Apple is forecasting revenue of between $13 billion and $13.4 billion.