Apple earnings are up 40% from last year
Apple is reporting a whopping 40% increase in revenue from just a year ago. This hike in Apple’s revenues is attributed to a surge in the sales of its two brand name products Mac and iPod.
Apple reported Mac sales of almost 2.5 million units, a 41% increase from a year ago. Mac revenue was up 43% from last year to reach $3.6 billion.
But the increased sales of the iPod provided a surprise, as Apple said it sold 11 million of the digital media players, up 12% from a year ago. IPod sales have been expected to begin flattening out soon, and during Apple's second quarter, its iPod sales were up just 1% from the prior year.
But will the increase in Apple earnings continue as the company faces ailing US economy?
On a conference call to discuss the results, Chief Financial Officer Peter Oppenheimer addressed the state of U.S. consumer spending, which has been the largest factor in Apple's overall sales growth. "We didn't see any obvious impact to the business in the June quarter," Oppenheimer said. "[But] we're certainly aware of the economic environment and we've considered it among other factors in preparing our guidance."