Apple revenues soar in fiscal '08 Q1

Revenues reach $9.6 billion, with profit for the quarter hitting $1.58 billion
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Apple has announced its financial results for its first fiscal 2008 quarter ending December 29th, in which revenues hit $9.6 billion, up from $7.1 billion in the same period the year before.

Profit for the quarter reached $1.58 billion, up from $1 billion last year. Gross margin fell from 34.7 per cent to 31.2 per cent.

Throughout the period Apple shipped 2,319,000 Macs, a unit growth of 47 per cent compared to Q1 2007. iPod shipping figures hit 22,121,000 whilst the company also shipped 2,315,000 units of its new iPhone.

“We’re thrilled to report our best quarter ever, with the highest revenue and earnings in Apple’s history,” Apple CEO Steve Jobs stated. “We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks.”

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