Apple results bolstered by iPhone sales

Apple’s profits and revenues soared 90% and 49% respectively in the first quarter of 2010 on the back of strong iPhone and Mac sales according to its latest financial results.


Profits hit at $3.1bn (£2bn) for the three months to March 27, while revenues were at $13.5bn (£8.75bn).

The company sold 8.75 million iPhones during the period, representing a 131% quarter-on-quarter rise. The boom in iPhone sales is largely accredited to the company’s expanded distribution agreements with mobile phone operators such as Orange and Vodafone in the UK.

By comparison, Apple posted a 1% quarterly decline in iPod sales and a 33% quarter-on-quarter rise in sales of Mac computers during the same period.

Steve Jobs, Apple CEO, said the company expected to generate revenues of up to $13.4 billion in coming quarter based on the back of the international launch of the iPad which has yet to officially launch outside of North America.

“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49% and profits up 90%,” he said. “We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year.”

Last week O2, Orange and Vodafone confirmed they will offer the Apple iPad at its UK launch next month.

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