Apple profits nearly double as iPhone sales soar
Published: 20th Apr 2011 22:23:20
Latest profits for the computer giant Apple beat hopes, including a higher-than-expected rise in iPhone sales.
Net income for the three months to March jumped 85% on the same period a year ago, with iPhone sales of 18.65m - a rise of 113%.
The figures are the latest in a string of good results from the US's technology companies.
Intel's figures, released on Wednesday, were also well above hopes and helped share prices to a three-year high.
Apple reported quarterly net profits of $5.99bn (£3.6bn), 95% up on the $3bn it made a year ago. Revenue was $24.67bn, a rise of 83%.
Sales of the company's computers were strongly higher, up by 28% from a year ago.
Apple's figures were not uniformly positive. It sold 4.69m iPad tablet computers in the quarter, below expectations.
Another disappointment was sales of its one-time star, the iPod, down by 17% on the year at 9m units.
Most analysts were enthusiastic about the figures.
Channing Smith, portfolio manager at Capital Advisors growth fund, said: "Dynamite numbers across the board. The only hiccup is lower than expected iPad numbers."
Apple chief executive Steve Jobs said in a statement: "With quarterly revenue growth of 83% and profit growth of 95% we're firing on all cylinders."
Mr Jobs, who went on medical leave in January with an undisclosed illness, continued: "We will continue to innovate on all fronts throughout the remainder of the year."
The day-to-day running of Apple is currently being done by chief operating officer Tim Cook.
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Harvard CitationBBC News, 2011. Apple profits nearly double as iPhone sales soar [Online] (Updated 20th Apr 2011)
Available at: http://www.ukwirednews.com/news/147776/Apple-profits-nearly-double-as-iPhone-sales-soar [Accessed 23rd Jul 2014]
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With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com