Apple shines amid economic gloom

Apple Mac sales were down

Apple has continued to defy the economic gloom by posting growth in sales and profit.

The supplier reported second quarter revenue of $8.16bn (£5.6bn) and net profit of $1.21bn (£833m), compared to $7.51bn (£5.2bn) and $1.05bn (£722m) respectively in the same period last year.

But sales of Apple Mac computers were hit by the global slowdown in the PC market, with 2.22 million Macs shipped, down three per cent year on year.

However, the firm’s consumer products continued to shine, with 11.01 million iPods sold – a three per cent increase - and 3.79 million iPhones shipped, up 123 per cent.

“We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history,” said Apple chief financial officer Peter Oppenheimer.

“Apple’s financial condition remains very robust, with almost $29bn in cash and marketable securities on our balance sheet.”

The company is forecasting third quarter revenue of $7.7bn to $7.9bn.