Apple Reports $1.67 Billion Quarterly Profit on Record Sales

Apple Reports $1.67 Billion Quarterly Profit on Record Sales

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Apple enjoyed its most profitable quarter ever, as the company set sales marks for both Mac and iPhone sales. The company announced earnings for its fiscal fourth quarter on Monday.

For the quarter ending September 30, Apple reported a net profit of $1.67 billion, or $1.82 per share, on revenue of $7.9 billion. Those numbers blew away analysts' earnings and revenue estimates of $1.42 a share and $9.2 billion in sales, respectively.

Apple sold 3.05 million Macs during the quarter--a 17 percent increase over what it sold for the same three-month period in 2008. iPhone sales rose 7 percent from the year-ago quarter to 7.4 million units. iPod sales declined from last year, falling 8 percent to 10.2 million units.

"We are thrilled to have sold more Macs and iPhones than in any previous quarter," said Apple CEO Steve Jobs in a statement accompanying the earnings announcement. "We've got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010."

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