What Recession: iPhone helps Apple profits rise by 47-percent
Yes we are in the middle of a recession but you may as well say “What recession?” the reason we say this because when it comes to business and profits Apple seems to smack the market fall in the face.
Apple’s profits soar by 47% in face of recession, they have pushed the global downturn around and its profits quarter is thanks to the record sales of Apple iPhones and Mac computers. The company has seen a rise in profits by nearly 50 per cent on the same quarter a year ago, net profit was a staggering $1.67 billion (Â£1 billion), or $1.82 a share, in its fourth quarter to September 26, which is up a massive up $1.14 billion, or $1.26 a share, in the year-ago period. Analysts were expecting a profit of $1.42 a share. The results sent Apple’s shares to a new high of $204 in after-hours trading, up 7.5 per cent.
iPhone sales have been amazing from July to the end of September and have jumped to 7.4 million which is more than Â½ a million than last. For more information on the above please visit Times Online.