Apple posts record profits of over 800m

Apple sold 3.79m iPhones in the second quarter helping to boost its profits over the period to a record $1.21bn (£832m).

The three months to 28 March saw Apple strengthen its position in the high-end phone sector, selling 123% more phones as in the same quarter last year.

The growth was driven by the launch of the iPhone 3G in July.

The supporting App Store is close to distributing its billionth application.

Apple’s second quarter revenues grew by almost 9% to $8.16bn (£5.61bn) from $7.96bn (£5.6bn) the previous year.

Peter Oppenheimer, CFO of Apple, said, “We’re extremely pleased to report the best non-holiday quarter revenue and earnings in our history. Apple’s financial condition remains very robust, with almost $29bn (£20bn) in cash and marketable securities on our balance sheet.”

This story first appeared on newmediaage.co.uk

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