Apple has reported revenues of $8.34 billion for the second quarter of 2009, up from $7.46 billion in Q2 last year. The company also posted a net profit of $1.23 billion for the quarter, up from $1.07 billion a year ago.

Downturn? What downturn?

Apple sold 5.2 million iPhones during Q2, up 626 per cent year-on-year - although in Q2 last year, buyers were holding onto their wallets waiting for the launch of the iPhone 3G.

Meanwhile, Apple sold 10.2 million iPods during Q2 this year, which includes iPod touches (but also other models). That's down 7 per cent from Q2 last year.

"We’re making our most innovative products ever and our customers are responding," says CEO Steve Jobs. "Steve Jobs, Apple’s CEO.

"We’re thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year."

The company kicks off its analyst conference call in about 15 minutes, so stand by for more details.