Apple defies economic recession with record breaking profits

Posted by Aharon Etengoff

Apple continued to defy the global economic recession by posting record breaking profits for its fiscal 2010 fourth quarter.

To be sure, the Cupertino-based company raked in a staggering $20.34 billion worth of revenue, while netting a tidy quarterly profit of $4.31 billion, or $4.64 per diluted share.

"We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings - both all-time records for [us]," said Apple CEO Steve Jobs.

Apple defies economic recession with record breaking profits"iPhone sales of 14.1 million were up 91 percent year-over-year, handily beating the 12.1 million phones RIM sold in their most recent quarter.

"[Of course], we still have a few surprises left for the remainder of this calendar year."



Jobs also confirmed that Apple sold 3.89 million Macs, which represented an impressive 27 percent unit increase over the year-ago quarter. 



In addition, the company shipped 14.1 million iPhones, 9.05 million iPods and 4.19 million iPads.