Company appears recession-proof!
If you’re feeling a bit nostalgic for the days before the recessing then roll up, roll up and take a gander at Apple’s latest quarterly results. Apparently proving itself recession proof Apple has recorded record revenue of an astonishing $10.17 billion (~£7.35 billion) and net income of $1.61 billion (~£1.16 billion), up 5.9 per cent and 1.9 per cent respectively on the same period last year.
Aside from the impressive feat of actually recording a profit, not a common accomplishment for a tech company in the current climate, what’s more striking is that that profit is also increased on last year.
Contributing to Apple’s bottom line were sales of over 2.5 million Mac computers, more than 22.7 million iPods and 4.4 million iPhones. The latter’s sales growing 88 per cent over the same quarter last year, thanks to the introduction of the 3G model no doubt.
Steve Jobs was understandably enthralled, commenting: “Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history—surpassing $10 billion in quarterly revenue for the first time ever.”
It’s going to be interesting to see whether or not Apple can keep that trend of growing its profit in the current quarter.