Apple clearly doesn't know what a recession is, it probably can't even spell it...
Late yesterday the Cupertino giant announced its third quarter financial results and like Q2 2009 they are up, up, up, up, up, up, oh and a down...
In short the last three months proved to be Apple's best non-holiday quarter revenue and earnings in the company's history. Revenue was $8.34bn with a net profit of $1.23bn compared to $7.46bn and $1.07bn in Q3 2008. Gross margin also increased from a dizzying 34.8 per cent to 36.3 per cent (price cuts please!).
In terms of unit shipments 2.6m Macs were sold - a four per cent jump on the year ago quarter, while 5.2m iPhone and iPhone 3GS found new homes. Sneakily Apple describes this as a 626 per cent unit growth but it's an unfair comparison since the subsidised iPhone 3G didn't hit the US and UK until July which is the company's Q4.
Perhaps most interesting however are the 10.2m iPod sales which is actually down a hefty seven per cent on Q3 2008. Certainly it looks as if the MP3 player market is being cannibalised by the mobile phone sector - even if a large chunk of that could come down to the iPhone itself. I'd expect this to accelerate as a trend (at least outside of the Christmas period).
The company also dismissed reports it would make a netbook with acting CEO Tim Cook saying "Our goal is not to build the most computers, it's to build the best. Whatever price allows us to build the best computer, we'll build it there. We can't build a great $399 computer." That seems pretty final though there have been bigger U-turns in the past.
"Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion and we expect diluted earnings per share in the range of about $1.18 to $1.23," said Apple CFO Peter Oppenheimer.
In related news Apple iPhone UK partner O2 has admitted its 3G network went down yesterday which is a gaff of rather epic proportions. "We're having a problem with Pay Monthly internet access, this will affect MMS too. Sorry - we're working to fix this ASAP," it admitted on its O2 Twitter account. Personally speaking I had no issues with 3G all day on my iPhone 3G but perhaps I was the only lucky one?!