Apple to build 30 new stores in coming months as profits soar

Apple_store_fifth_avenueOn the same day that Apple announced its best financial quarter ever, the Cupertino company also let on its intention to build 30 new Apple stores around the world by the end of September. The new stores will include its first in Hong Kong.

Apple Insider reports that Peter Oppenheimer, the company’s chief financial officer, said in a conference call on Tuesday that the stores had generated $3.5 billion in revenue and $828 million in profit during the second calendar quarter (Apple’s fiscal Q3).

He added that the stores, of which there are more than 300 worldwide, hosted a staggering 73.7 million visitors during the quarter.

Tim Cook, Apple’s chief operations officer, said the company was looking to build more stores in China, with Apple Insider reporting that the company could open as many as 25 of them in the country by the end of 2012.

Financial results for the quarter, announced on Tuesday, showed that profits climbed almost 125 percent to $7.31 billion on record quarterly sales totaling $28.57 billion. Apple CEO Steve Jobs said of the results: “We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent.” He added: “Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.”

News that the computer giant shifted record numbers of iPhones (20.3 million – marking a 142 percent on the same period last year) and iPads (9.2 million – marking a 183 percent increase on the same period last year) in the quarter is certain to put large smiles on the faces of Apple executives and shareholders.

Besides the record number of iPhones and iPads sold, the company also shifted just under four million of its personal computers, a 14 percent increase on the same period last year.

The results come in the same week that Apple is expected to release its latest operating system for its personal computers, OS X Lion, as well as a refresh of the MacBook Air.

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