Apple Dismisses Revenue Fears, Posts Best Q2 Results Ever

Apple has managed to produce another phenomenal quarter on the back of excellent iPhone sales as the company reported revenues above market expectations.

Both sales for Q2 which reached a staggering 8.16 billion and Apple's EPS, which topped $1.33, were above analysts' estimates and caused the company's share prices to rise by 2.4 percent after the close to reach $124.30

The firm's excellent sales were fuelled partly by its flagship product, the iPhone, which sold 3.79 million units this quarter, around 15 percent more than the market expectations and more than 120 percent above last year's Q2.

The iPhone alone brought in a whopping $1.5 billion in revenues for Q2, a fourfold increase over the year-ago quarter, thanks partly to the App store and strategic partnerships with AT&T and other mobile phone carriers.

The number of iPods sold as well grew to 11.01 million, up by 3 percent over the same period in 2008 while the number of Macs sold fell by 3 percent to 2.22 million.

Cost of production and related expenditures, especially for the iPhone, dropped significantly as well. Apple's smartphone remains its strongest product with 21 million units already sold and nearly 1 billion applications downloaded.

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Our Comments

Apple is doing unsurprisingly well; the iPhone being the star attraction. If the other manufacturers do not come with an ingenious way to defeat the smartphone and its ecosystem, it might very soon eat everybody else's lunch.

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