4/30/2008 1:10:00 PM
Apple profits up and margins fall compared with 2007
Apple’s revenues for the first three months of 2008 increased by 43% to £3.79bn, compared with the same quarter last year. Profits were also up by 36%, reaching £0.53bn.
However, in line with other manufacturers, the technology company saw its margins fall, reaching 32.9% compared with 35.1% in Q1 last year.
According to market estimates, the company has so far sold five million iPhones. Peter Oppenheimer, Apple’s CFO, said the company expects to sell 10 million handsets by the end of the year.