Grimes said:
Recession? What recession?
Apple 1Q Profit Up 50% On IPhone, Mac Sales >AAPL
Apple Inc.'s (AAPL) fiscal first-quarter profit jumped 50% as the consumer electronics giant doubled the amount of iPhone smartphones it sold and posted unexpectedly strong sales of its Macintosh computers. Results easily topped Wall Street's expectations.
In the quarter ended Dec. 26, 2009, Cupertino, Calif.-based Apple on Monday said it sold 8.7 million iPhones during a very strong holiday sales period.
The company called the performance its "all-time highest revenue and profit" in a press release announcing the financial results. That was partly driven by an accounting change for the iPhone that boosted the company's performance.
"There was tremendous momentum through the holidays, especially for Macintoshes and iPods," said Apple Chief Financial Officer Peter Oppenheimer in an interview with Dow Jones Newswires. Meanwhile, Apple gained market share in the computer, media player and smartphone markets during the quarter, he said.
For the quarter ended Dec. 26, Apple reported earnings of $3.38 billion, or $3.67 a share, up from $2.26 billion, or $2.50 a share, a year earlier. Revenue increased 32% to $15.68 billion, with 42% of sales in the U.S.
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