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Apple makes $1.2bn profit in one of its best-ever quarters

Apple has defied the credit crunch, with the iPhone and iPods driving massive sales and $1.2bn in profit, in the company's best non-holiday quarter to date

Credit crunch? What credit crunch? Thumbing their noses at the recession-stricken likes of Lauren and Giampaolo (and hitting back at Microsoft with the latest Mac ads), Apple has reported boffo business with one of its best quarters ever.

For the period up to 28 March, Apple recorded $8.16bn (£5.61bn) in revenue, up from $7.5bn in revenue during the same period last year. Net profit was $1.21bn, or earnings per share of $1.33. In a statement announcing the results, chief financial officer Peter Oppenheimer said the figures represent "the best non-holiday quarter revenue and earnings in our history".

Analysts had been expecting revenue of $7.96bn and earnings per share of $1.09, but what do analysts know? Apple also outperformed sales predictions, selling 2.22 million Macs, 11 million iPods, and 3.79 million iPhones during the quarter.

Sales of Macs fell three per cent compared to last year, with desktops down four per cent, and laptops down two per cent. Revenue dropped a whopping 22 per cent for desktops, and 12 per cent for portables. Macheads outside the US are buying more Macs than the Yanks.

iPods boosted the company, with sales up 3 per cent on last year, buoyed by the new shuffle.

The real money seems to be made by the iPhone and iPod touch, with combined sales of 37 million. How much moolah that represents is unclear, as Apple doesn't count the money brought in from the iPhone -- it's an accounting thing.

With iPhone OS 3.0 on the way, things are looking good for Apple when Steve Jobs returns from his 'olidays. Shame the rest of the economy is in the toilet.