Apple 4Q profit more than doubled on strong iPod sales
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Apple Computer said yesterday its fourth-quarter profit more than doubled on sharp rise in sales of its iPod digital-music player.
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Apple Computer Inc.  on Wednesday reported its quarterly profit more than doubled as it sold more than 2 million iPod digital music players and said results for the current quarter would top Wall Street estimates.
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Apple announced first quarter financial results, with revenue of $7.1 billion and a net profit of $1.0 billion, or $1.14 per diluted share. These results compare to revenue of $5.7 billion and a net profit of $565 million, or $.65 per diluted share, in the year-ago quarter. Gross margin was 31.2%, up from 27.2% a year ago. International sales accounted for 42% of revenue. .
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The data storage vendor said second-quarter profit rose to $334.4 million as it recorded double-digit sales gains at its biggest businesses.
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Shares of Apple Computer Inc.AAPL.O  rose as much as 13 percent on Thursday, boosted by its report  that quarterly profit and revenue jumped on robust sales of its  iPod digital music players, and optimism for results in the  current quarter.
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Sales of portable digital audio players like Apple Computer Inc.&#39;s trendy iPod are booming and are expected to generate $58 billion in revenue worldwide by 2008, according to a research report released Tuesday.
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Apple Computer Inc. stock jumped to a four-year high yesterday after a major Wall Street firm nearly doubled its price target on the stock, saying that customer satisfaction with its iPod music player is creating &quot;wildfire word-of-mouth marketing&quot; for its Mac computers and other products.
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Apple Computer shares jumped to fresh four-year highs in the US overnight, as the popularity of its iPod digital music player spurred a Wall Street analyst to nearly double his price target on the stock.
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Apple Computer (AAPL) on Wednesday reported its quarterly profit more than doubled, on strong sales of its iPod digital music player and notebook computers, and said earnings for the current quarter would be much better than
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Apple Computer&#39;s stock price hit its highest level in four years, passing the $50 mark. The company recently announced that it shipped more than two million of its wildly popular iPod music
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Apple reported strong earnings for its fourth quarter on Monday, boosted by record Macintosh computer sales and the shipment of 1.12 million iPhones.The company beat analyst estimates with net income of $904 million, or $1.01 per share, compared with $542 million, or $0.62 per share, in net income reported in last year&#39;s fourth quarter. Analysts polled by Thomson Financial estimated a consensus of $760.45 million in net income and earnings of $0.84 per share for the quarter ended Sept. 29.The company reported $6.22 billion in revenue, up from $4.84 billion in the fourth quarter last year. The revenue consensus from analysts polled by Thomson was for $6.07 billion.For fiscal 2007, Apple reported net revenue of $24 billion and net income of $3.5 billion, said Peter Oppenheimer, Apple&#39;s CFO, in a conference call with financial analysts.Looking ahead, the company estimates that revenue will hit $9.2 billion with earnings per share of $1.42 for the first fiscal quarter of 2008, Oppenheimer said.The company shipped 2.16 million Macs during the quarter, a 34 percent growth over the year-ago period, Apple said in a news release.Mac sales increased worldwide, spurred by back-to-school promotions, said Tim Cook, Apple&#39;s COO, on the call. In addition to rapid growth in the U.S. and Europe, Mac unit shipments also increased in Japan, a major market where Apple has traditionally struggled to grow, Cook said.Shipment of Mac notebooks, including MacBook and MacBook Pro, grew 31 percent year-over-year and accounted for 62 percent of all Macs sold, Oppenheimer said.Given the success of this back-to-school period, Mac sales could be flat in the upcoming quarter, Cook warned.Sales of the iPhone are outpacing those of the iPod during the first few months after its 2001 introduction, Cook said. The company shipped 1.39 million iPhones during the year and saw a spike in sales after a $200 price drop of the 8GB iPhone from $599 to $399 in September.Apple is confident it will sell 10 million iPhones in the next calendar year, Cook said.Apple sold 10.2 million iPods during the quarter, a 17 percent year-over-year growth. iPod has sold 120 million units to date, Oppenheimer said. The upcoming holiday shopping season will be a big quarter for iPod sales, Oppenheimer said.Apple had a busy quarter with multiple product announcements.Last month, it unveiled the&#160;iPod Touch, a portable multimedia player with a touchscreen user interface and Wi-Fi capabilities. It also announced availability of the iPhone in Europe, with U.K. network operator O2 (UK) Ltd. slated to start shipping the device in November.The company is excited about entering the Europe market, and plans to enter the Asia-Pacific market in 2008, Cook said.On the software front, Apple announced iWork &#39;08, its office applications suite, in August. Mac OS X Leopard, Apple&#39;s latest operating system, will begin shipping later this week.This story was updated on October 22, 2007
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Apple Computer reports a 50% jump in fourth quarter profit, driven by strong demand for its iPod music player.
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Little was surprising about Apple's quarterly numbers surrounding the iPhone, as sales met expectations and forecasts. However, Mac sales surged to record levels and the company posted far better revenue numbers than expected.
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Wall Street apparently has rewarded Apple (Nasdaq: AAPL), both for its fiscal 2004 fourth-quarter numbers and for its latest iPod and iTunes offerings: Apple's share price as of midday Thursday is just over US&#36;50, its highest price in four years, and almost &#36;12 higher than its average share price the previous month.
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Stocks rose on Tuesday as strong earnings by Apple Inc.  and American Express Co  eased concern about consumer spending and profits.
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Apple Computer Incâs quarterly profit has more than doubled on sales of 2 million iPod digital music players. Q4 earnings per share of the company have beaten Wall Street expectations by 50 per cent.
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Apple Computer's iPod music player helped the company increase revenue at a dizzying rate, leading to its highest fourth-quarter revenue in nine years.