Apple Q4 profit jumps 47pc on iPhone and Mac sales

Posted By: Staff
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California, Oct 20: Riding on the back of record sales of iPhones and Macintosh computers, Apple Inc shrugged off the effects of the global economic downturn to post a massive surge of 47 per cent in the fourth quarter profit.

In the fourth quarter ending Sep 26, the company net profit rose to 1.67 billion dollars or 1.82 dollars a share, as opposed to 1.14 billion dollars, or 1.26 dollars a share in the corresponding quarter of previous year.

These results not only beat the predictions of analytists who were expecting a profit of 1.42 dollar per share, but also took the company's shares to a new high of 204 dollars in after-hours trading, up by 7.5 per cent.

Apple is believed to have benefited the most from the low cost iPhones it released in Jun 2009 along with the new version of the its operating system for its Mac computers in Aug 2009.

OneIndia News

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