Apple earns highest ever quarterly profit

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On another celebratory note, let’s congratulate Apple for earning its most profitable quarter ever, exceeding analysts’ predictions.

So just how profitable did the company get? To give you some (impressive) numbers, Apple announced that its net revenue for the quarter ending September 30 is $9.87 billion, with a net profit of $1.67 billion.

That’s very good news considering this last quarter was a hard time for lots of people, especially businesses.

“In recessionary times it shows what Apple was counting on: Consumers focus on bang for the buck,” Michael Gartenberg, vice president of strategy and analysis at Interpet said. “Consumers are asking, where is the value I get for the dollar? Even if it’s not the cheapest, is the stuff I buy today still going to be useful down the road?”

Overall, the corporate giant’s quarterly profit increased to a whopping 46 percent, that’s 21 percent higher than last year with just 25 percent.

Congratulations you guys!! 😉

Source: http://www.wired.com/epicenter/2009/10/apple-fourth-quarter/