Apple has posted a record breaking quarter and the outfit claims it is the one of its best quarters ever, which is quite impressive considering the state of the global economy.

Apple reported $13.5 billion of revenue in Q1 and its profits soared to $3.07 billion, or $3.3 per share. Oddly enough, iPhone shipments are still growing, despite the fact that an entirely new model is just a couple of months away. Apple shipped 8.75 million iPhones in the first quarter, 131 percent more than in Q1 2009. Sales of Apple's iPod media players stayed stagnant at 10.9 million units.

Bear in mind that Apple introduced the iPad in early Q2 and it is already reporting massive demand which has caused it to postpone the international launch of its overhyped tablet. It's clear Apple's Q2 figures will be just as impressive and the new iPhone could push profits even higher in the seasonally weak third quarter.