Apple Reports Record Earnings
Apple have announced record earnings of $28 billion and a net profit of over $15 billion for the last quarter.
The profits are on the back of surging demand for the Apple iPhone and iPad products, sales of which have more than doubled.
It is interesting that this massive demand has occurred when competitors to both the iPhone and the iPad has become alot stronger. HTC, for instance, have started to match the iPhone for functionality and design with their Google Android based phones.
The results do mask however, a real downturn in the fortunes of the iPod product range which has slipped by 20%. It seams more and more of us now store our music collections on our phones.
Analysts had been concerned that the devastation caused by the Tsunami in Japan would have an negative impact of Apple‘s supply chain, but it seems that there were no adverse supply problems.
Shares in the company rose by over 5% on the financial news and the Apple CFO Peter Oppenheimer said that he expected revenue of about $25 billion in the 4th quarter of 2011. Predictions from Apple tend to be conservative so it will be interesting to see if they can improve on this performance.
Steve Jobs, Apple’s CEO said,
“We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”
They also have a new version of their operating system out this week, a new thunderbolt 27″ monitor and a rumoured launch of the iPad 3 and the iPhone 5 to come.
As you can see in our iPad 2 reader poll below, over 60% of you are waiting for the next generation iPad 3. Rumour has it that it will feature a display resolution that will make the Apple fans drool.
Are you waiting for the Apple Ipad 3?
Are you someone who is planning on getting / has bought the iPad 2 or are you willing to wait for the iPad 3 ? Cast your vote below.
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