Apple Posts Record Revenues

23 January 2009

CUPERTINO, California: Apple posted record revenues of $10.17 billion (€7.8bn; £7.4bn) in the final quarter of 2008, with profits totalling $1.61bn during the same period, according to the company's figures.

Sales of its iPod media player grew 3% to 22.7m, with iPhone sales up 88% year-on-year to 4.4m – below analysts' expectations – and 2.5m Mac computers being sold, up 9% year-on-year.

Chief executive Steve Jobs said in a statement: "Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history – surpassing $10bn in quarterly revenue for the first time ever."

Jobs is currently on six-month leave for medical reasons, but Apple coo Tim Cook says the company is a strong position, adding: "There is an extraordinary breadth and depth and tenure among the Apple executive team."

The company forecasts earnings of $7.6bn to $8bn for the next quarter, but argued the current climate made precise forecasting difficult.

Data sourced from Financial Times; additional content by WARC staff