Apple had a pretty good quarter

In case you haven't heard, Apple reported $7.9 billion in revenue last quarter and generated $1.14 billion in profits. That's a lot of doughnuts.

"Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone -- we sold more phones than RIM," said Steve Jobs, Apple's CEO. "We don't yet know how this economic downturn will affect Apple. But we're armed with the strongest product line in our history, the most talented employees and the best customers in our industry. And $25 billion of cash safely in the bank with zero debt."

MacRumors has the complete lowdown and breakdown of Apple's fourth quarter results.

John Gruber of Daring Fireball fame has posted an interesting piece on how the iPhone fits into all this.

The entire iPhone platform is only 15 months old. The cheapest model still costs $199. The room for growth in this market is unlike anything Apple has ever seen. So the question is: Despite continuing strong iPod sales and record-breaking Mac sales, how long until the iPhone is undeniably the primary product and platform made by Apple?

It's an interesting piece and well worth a read.