Apple's profits soar as iPhone bears fruits
Sales of the iPhone have driven up profits at US technology firm Apple, sending its shares to record highs yesterday.
The firm has continued to grow, unveiling a faster version of the iPhone in June and slashing the price of older models.
Apple also refreshed its MacBook Pro range of laptops and updated its operating system, boosting demand for hardware and software.
Revenue in the three months to 26 September rose by 25 per cent to $9.9 billion (£6bn), while profits leapt to $1.7bn. Full-year revenue hit $36.5bn, a 13 per cent year-on-year rise, and profits were up 18 per cent to $5.7bn.
Brian Marshall, an influential analyst at Broadpoint AmTech, said the financial report "reinforces my view that Apple is hands down the best technology company on the planet".
Sales of Apple Macs were up 19 per cent to 3.1 million, while iPhone sales rose by 500,000 year-on-year to 7.4 million. The success of the iPhone – which can be used to play music and surf the internet – has dented sales of the iPod digital music player, with the number of units shifted down 8 per cent year-on-year to 10.2 million.
But revenue from the iPod continued to increase as consumers traded up from the entry-level Shuffle model to the mid-range Nano, or even up to the top-of-the-range iPod Touch.
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