Apple has presented its financial results for the first quarter of 2009 (which is the second quarter of the fiscal year 2009 for Apple), and despite suspicions that Apple might see a sharp decline in Macintosh sales in face of the economic slowdown, the company has managed to weather the storm quite well.
Despite the fact that Macintosh sales have seen their first year-over-year decline in a long time, the decline was only 3%, which is significantly better than the 6.5% decline in the overall PC market. Sales of iPods saw a 3% year-over-year rise, and the iPhone saw a massive 123% increase in year-over-year sales, and was down only 15% from the usually very rosy holiday quarter.
As a consequence, the company also did very well money-wise. “Revenue came in at $8.16 billion, which netted the company a profit of $1.33 per share. The holiday quarter had only seen revenue of $2 billion more, driving profits of $1.78 a share, while the quarter one year earlier had seen $7.51 billion in revenue and a profit of $1.16 a share. So the quarterly drop wasn’t especially large, and the company maintained its yearly growth.” The company maintained its revenue growth by increasing its gross margins by 3% to 36.4%.
We can conclude from this that Apple is weathering the storm quite well, despite worries that the lack of cheaper models could negatively affect the company during these economic harsher times.