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iPhone sales beat Blackberry’s as Apple profits soar

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Technology manufacturer and retailer Apple has today posted fourth quarter profits of more than $4.31 billion (£2.7 billion), a 70 per cent year-on-year rise.

In results up until September 25th, the company revenues reached a record $20.34 billion compared to $12.21 billion in the fourth quarter of last year.

For the first time Apple’s iPhone has out-sold smartphone rival RIM’s Blackberry handsets, with 14.1 million units of the former sold compared to 12.1 million units of the latter in the most recent quarter.

Steve Jobs, Apple’s CEO, commented: “We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings - both all-time records for Apple.

“We still have a few surprises left for the remainder of this calendar year.”

Previous predictions of five million iPad sales were not realised during Q4, with total sales in Apple’s newest product only reaching 4.19 million.

Sales of iPods during the quarter also declined to 9.05 million units, an 11 per cent fall compared to the same period last year.

Peter Oppenheimer, Apple’s Chief Financial Officer, said: “We’re thrilled with the performance and strength of our business, generating almost $5.7 billion in cash flow from operations during the quarter.

“Looking ahead to the first fiscal quarter of 2011, we expect revenue of about $23 billion and we expect diluted earnings per share of about $4.80.”

Published on Tuesday 19 October by Editorial Assistant

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