Mac Sales Propel Apple to Most Profitable Quarter Ever
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Fueled by piping-hot Mac sales, Apple reports the best quarterly performance in the company's history.
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SAN JOSE, Calif. - Apple Computer Inc.'s fourth quarter earnings soared on strong sales of laptop computers and its popular iPod music players, helping the company notch its highest revenue for the quarter in nine years...
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Apple Computer Inc. (AAPL.O: Quote, Profile, Research) on Thursday said sales of songs bought from its market-leading iTunes online music store had topped 200 million, a figure that
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Apple Computer Inc. shares rose to a four-year high, erasing the slump triggered September 2000 by a disappointing profit forecast, as demand for the iPod digital music player surges before the year-end holiday shopping season.
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Apple Computer Inc.  on Thursday said sales of songs bought from its market-leading iTunes online music store had topped 200 million, a figure that was about in line with what some analysts had been expecting.
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Apple Computer Inc. AAPL.O 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 Inc  beat Wall  Street targets with a 67 percent rise in quarterly profit on  Monday, led by strong sales of its Macintosh computers and a  big first full quarter from the iPhone, sending its shares up  nearly 6 percent.
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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 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 sees profits surge 67% in the three months to September, thanks to demand for computers and iPods.
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Surge in sales of iPods, Macs buoy revenue a day after the company announces lower-price versions of both products.
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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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Despite a looming recession, strong Mac sales will help Apple meet or exceed revenues this quarter.
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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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Apple Computer beat third-quarter profit expectations, crediting the continued popularity of its iPod music players and growing interest in Macintosh computers.
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Apple's sales exceeded the industry average in the fourth quarter 2007 as the company gained almost 6 percent of the U.S. computer market.
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Apple Computer said that profit in its first quarter more than quadrupled - its biggest increase ever - on strong holiday sales of its iPod music player.