Amid a deepening recession and an intensifying controversy over the health of its iconic chief executive, Apple reported strong first-quarter profits today that beat Wall Street’s expectation.
Reporting its first quarter financial results today, Apple said it sold a record 22.7 million iPods during the holiday quarter — a 3 percent increase compared to the same quarter last year. It also sold 4.363 million iPhones in the quarter, an 88 percent increase year-over-year, but down from 6.89 million units in the prior quarter. The company posted revenue of $10.17 billion and net quarterly profit of $1.61 billion, or $1.78 per diluted share, compared with revenue of $7.1 billion and net quarterly profit of $1.58 billion, or $1.76 per diluted share in Q1 2008. Sales of Other Music Related Products + Services were up 25% over the year-ago quarter, and up 22% from Q4 2008, to $1.011 billion total. That category includes iTunes Store sales, iPod services, and revenues from Apple and third-party iPod accessories. International sales accounted for 46 percent of the quarter’s revenue.
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