iLounge

By Charles Starrett

Senior Editor, iLounge
Published: Monday, July 21, 2008
News Category: Apple

Reporting its third quarter financial results today, Apple said it sold 11.011 million iPods during the quarter — a 12 percent increase in units and seven percent revenue growth compared to the same quarter last year. In addition, it sold 717,000 iPhones in the quarter despite limited stock, compared to 270,000 in Q3 2007. The company posted revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share, compared with revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share in Q3 2007.

Sales of Other Music Related Products + Services were up 35% over last year’s quarter and down slightly from the second quarter of 2008, to $819 million total. That category includes iTunes Store sales, iPod services, and revenues from Apple and third-party iPod accessories. Following plans it outlined in its Q2 2008 Conference Call, Apple is deferring all iPhone revenue until after the launch date of iPhone Software 2.0, which was released after the quarter’s end.

“We’re proud to report the best June quarter for both revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO. “We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we’re busy finishing several more wonderful new products to launch in the coming months.”

“We’re extremely pleased with the growth of our business and the generation of almost $5.4 billion in cash in the first three quarters of fiscal 2008,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth quarter of fiscal 2008, we expect revenue of about $7.8 billion and earnings per diluted share of about $1.00.”