April 27, 2010 by James Oliver
Apple has revealed that their profits gave almost doubled after huge sales of the iPhone in the last year.
Apple was joined somewhat surprisingly by Yahoo! as both companies posted major boosts in performance last week.
Net profit at Apple rose to £1.99billion, a big jump from the £1.05 billion that was posted in the same quarter just a year ago. Whilst this was indeed an impressive jump the second quarter witnessed an even bigger fluctuation as profits increased to £8.78 billion from £5.90 a year prior. This huge jump in profit is thought to be mainly down to the popularity of the iPhone.
According to Apple, sales of their Mac computers rose by 33% but the real success story was inevitably the iPhone which sole 8.75 million in the same quarter up 131% in total.
The company also sold 10.89million iPods which was down just 1% which isn’t too bad considering that it seems as though everyone has one already.
Apple chief executive Steve Jobs summed up the companies delight:
“We’re thrilled to report our best non-holiday quarter ever, with revenues up 49% percent and profits up 90%,” said
“We’ve launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year,” Jobs added.
Wall Street journalists received a shock meanwhile as Yahoo! said that its first quarter net profit had doubled to £201million. A surprise figure to many as Yahoo! has been seen to be lagging quite far behind its main rivals.
The total sales increase at Yahoo! stood at 1% to £1billon during the first quarter.
“We had a good quarter, delivering income from operations higher than our outlook,” Yahoo! chief executive Carol Bartz said in a statement.
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