Apple Posts Record Quarterly Profits Despite iPhone 4 Problems

The success of the iPad and iPhone has paid dividends for Apple as they announce records profits for the last quarter of 2010.

Apple will be celebrating as they have seen a 88 per cent increase revenues to $15.7bn, while their net profit was up by a staggering 78% at a whopping $3,25bn.

The latest Apple financial results were well in excess of what many analysts had thought and this is great news for Apple after the bashing they have taken since Antennagate –  that PR nightmare fades into (almost) insignificance in the light of Apple’s latest record profits.

According to a statement on Apple’s website they have sold in excess of 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the last year’s quarter.

Apple reported that they had sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple sold 9.41 million iPods during the quarter, representing an eight percent unit decline from the year-ago quarter.

Apple released their new iPad recently and have already notched up total sales of 3.27 million.

“It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Steve Jobs, Apple’s CEO. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

Business analysts have applauded the figures, Yair Reiner, an analyst at Oppenheimer & Co, said: “The figures are astounding numbers and even more astounding guidance,” he said.

“This is one of the few times in recent memory that Apple’s guidance has been ahead of the street at a time when investors were getting concerned the iPhone 4.”

So Apple’s Antennagate doesn’t seem to have made a real impact upon the profitability of Apple  – it will be interesting to see what happens in the next quarter, will the iPhone 4 continue to fly of the shelves.

Via Apple

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2 Responses to “Apple Posts Record Quarterly Profits Despite iPhone 4 Problems”

  1. selfsilent says:

    “Antenagate” didn’t affect profits because the problem only naturally affected about 100 people (left handed with a very tight grip). It was only when it was pointed out and people sought to reenact the problem, make a video or blog about it just for the extra traffic that the thing got blown out of proportion.


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