Apple records sky-high profits and "hunts for the new Jobs"

Apple has reportedly started the hunt for Steve Jobs' successor, despite the company announcing yet another record set of quarterly profits.

The Wall Street Journal claims that members of Apple's board have been quietly sounding out potential candidates to replace the company's iconic CEO, who is currently on his second spell of medical leave.

The board members have "discussed CEO succession with executive recruiters and at least one head of a high-profile technology company," according to the newspaper, although Jobs himself has dismissed the reports as "hogwash".

Yet, if the latest set of financial results are anything to go by, Apple will be hoping its CEO remains in the driving seat for some time yet.

The iPhone was somewhat surprisingly the star of the show, as Apple saw its quarterly profits grow by 124% year-on-year. The firm recorded revenue of $28.57bn for the quarter alone, a 90 percent increase on the same quarter in 2010.

Apple sold 20.34 million iPhones during the quarter, smashing past expectations of 17 or 18 million units.

That "figure may indeed make them the largest smartphone maker by volume, which is somewhat ironic in a quarter that many thought would be about the Mac," CCS Insight analyst John Jackson told Reuters.

"That it accomplished this without a new model speaks volumes about both its strength and the relative challenges facing competitors."

Mac sales boost

Mac sales certainly didn't disappoint, especially in the context of a wider malaise in the PC market.

Sales of Mac computers grew 15 percent year-on-year, posting the 21st successive quarter in which Mac growth has outstripped the wider PC market.

Meanwhile, the easing of supply constraints for components for the iPad 2 helped Apple to sell 9.25 million of the tablets during the quarter, an increase of 183 percent on the same quarter in 2010.

iPods remain the only black spot on the Apple balance sheet. The company saw a 20 percent year-on-year decline in sales of the music players, doubtless partially as a result of the iPod facilities in the high-flying iPhone.

This article originally appeared at pcpro.co.uk