Sales of the iPhone almost doubled the tech giant’s profit in the last quarter as sales of the smartphone reached more than 18m.
Furthermore, over the past few months the company’s net income has increased by 85 per cent.
Steve Jobs, Apple’s Chief Executive Officer, said:
“With quarterly revenue growth of 83 per cent and profit growth of 95 per cent, we’re firing on all cylinders.”
Also Peter Oppenheimer, Apple’s Chief Financial Officer, said:
“We are extremely pleased with our record March quarter revenue and earnings and cash flow from operations of over $6.2 bn (roughly £3.7).”
In addition, it was not just the popular iPhone that pushed revenue up, Apple also sold 3.76m Macs during the last quarter and over 4.5m iPads.
However, the once highly coveted iPod actually saw a decline in sales of 9m units which is 17 per cent less than in the last quarter.
But Apple is not the only tech supplier to benefit recently as Intel released figures Wednesday that showed its share prices had reached a third year high.
The income was generated from nearly $4bn (£2.4bn) in cash from operations, paid cash dividends of $994 (£603m), and it used $4bn (£2.4bn) to repurchase 189m shares of common stock.
Paul Otellini, Intel president and Chief Financial Officer, said:
“The first-quarter revenue was an all-time record for Intel fuelled by double digit annual revenue growth in every major product segment and across all geographies.
“These outstanding results, combined with our guidance for the second quarter, position us to achieve greater than 20 per cent annual revenue growth.”