Page last updated at 21:26 GMT, Wednesday, 22 April 2009 22:26 UK

iPhone helps Apple profit growth

iPhones
iPhones and iPods have driven sales at Apple while computer demand drops

Apple shrugged off the economic downturn to report a 15% jump in profits for the first three months of the year.

Sales of its iPhone more than doubled from the same quarter one year ago, while iPod sales also grew. However, demand for Macintosh computers dipped.

Net profit rose to $1.21bn (£0.84bn) from $1.05bn in the same quarter a year ago, on sales up 8.7% to $8.16bn.

The results sent the company's shares 2.5% higher in after-hours trading.

Analysts praised the results, especially given the economic climate, but said it was not necessarily a sign that things were set to improve in the wider market.

"Apple has been one of a few companies where business has been pretty strong throughout this economic downturn," said Eric Kuby, chief investment officer at Northstar Investment Management.

"It's good to see that the iPod and the iPhone are humming along."

But he added that while "any positive earnings surprise is good news" the results were "good for Apple, but not necessarily good for the whole market".



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