Cook: Surge in iPhone4 demand helps Apple hit highest fourth quarter revenue

Dubai: Apple CEO Tim Cook sounded jubilant in a conference call on Tuesday to announce the company had its highest fiscal fourth quarter revenue.

The company posted a quarterly revenue of $28.27 billion (Dh104 billion) with a net profit of $6.2 billion resulting in $7.05 per diluted share up from the same period last year when Apple posted fourth-quarter revenue of $20.34 billion with a net profit of $4.3 billion for $4.64 per diluted share.

The fourth fiscal quarter for Apple ended on September 24.

Cook said an historic surge in demand for the newly released iPhone4 witnessed four millions sales in the first days after its release on October 14, paving the way for an expected record first quarter of 2012.

"In our wildest dreams, we couldn't have gotten off to a better start as did with the iPhone4S," Cook said in the conference from Apple headquarters in Cupertino, California.

With the Christmas holiday approaching, Cook said he expects the rush on the new phone to continue.

"I'm confident we will set an all-time record for iPhone4s this quarter," Cook said. "We're thrilled to be shipping the new iPhone4S."

In total, Apple sold 17.07 million iPhones in the fourth fiscal quarter which ended September 24 to mark a 21 per cent increase in sales of the device while the company sold 11.2 million iPads during the quarter for a whopping 166 per cent increase over the same period last year.

Apple saw a 26 per cent jump in Mac sales with 4.89 million of the Apple computer units selling in the fourth quarter.

Sales of iPods, however, declined by 27 per cent to 6.62 million units shipped in the quarter.

Overall, Apple surpassed $100 billion in revenues for the year.

"We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion," Cook said.