Apple reports record results

Strong sales of the iPod, iPhone and Macintosh computers have propelled Apple to record results for the fourth quarter. Profits have risen 67% to $904m (£445m), beating Wall Street expectations for the technology giant.

The results follow the first full three-month period during which the iPhone has been on sale in the US. It launches on the O2 network in the UK on November 9. However, the rise in sales has been driven by demand for iPods and Mac computers.

Financial officer Peter Oppenheimer says the group has sold 1.19 million iPhones during the quarter and was “looking forward” to next month’s European launch.

Group sales for the three months to September 29 were $6.22bn, 29% higher than for the same period a year previously and above analyst forecasts of $6.06bn. Sales of iPods have surged 17% during the fourth quarter, compared with the same period in 2006.

Overall sales of personal computers made up more than a third of group sales, with 2.16 million units shifted during the period, an increase of 34% year-on-year. Mac now has an 8% share of the US personal computer market. Oppenheimer expects revenue of “about” $9.2bn in the first fiscal quarter of 2008.

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