Apple Profit Up 67%, Aided by Record Mac Sales
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Appleâs earnings leapt ahead of analystsâ expectations on record Macintosh sales, showing the company is joining the league of dominant computer makers, Hewlett-Packard and Dell.
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Apple Computer Inc. AAPL.O 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 Inc  said it sold more than two  million copies of the latest version of its operating system,  Mac OS X Leopard, since its release on Friday.
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The Nasdaq Composite rose on Thursday as technology shares benefited from stronger-than-expected economic data and Apple Inc. shot to a record on expectations of strong sales momentum for its iPhone.
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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 Inc. AAPL.O on  Wednesday posted a quarterly profit that blew past even the  highest Wall Street forecasts on skyrocketing sales of its iPod  digital music players and the highest number of Macintosh  computers sold in more than four years.
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Hewlett-Packard Co.  said  on Tuesday quarterly profit rose 26 percent, helped by strong  performances in its printer and personal computing businesses.
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Hewlett-Packard Co.'s first-quarter profit jumped 26 percent as the company benefited from higher sales of laptop computers, printers and printing supplies during a robust holiday spending season.
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Apple Computer Inc.  on Wednesday posted a quarterly profit that blew past even the highest Wall Street forecasts on skyrocketing sales of its iPod digital music players and the highest number of Macintosh computers sold in more than four years.
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Apple Inc.'s fiscal fourth-quarter profits jumped 67 percent and easily beat Wall Street expectations, capping a record-breaking year that saw unprecedented momentum in its Mac business, ceaseless consumer interest in its iPod players and a successful introduction of its newest endeavor, the iPhone.
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Apple posted a quarterly profit today that more than quadrupled on skyrocketing sales of its iPod digital music players and strong demand for its PowerBook notebook PCs.
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Apple Inc  blew by analysts' estimates with a 67 percent rise in profit on Monday as the popularity of its iPhone and iPod boosted Macintosh computer sales, and its shares jumped 7 percent.
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Apple reported strong quarterly earnings boosted by record Macintosh computer and iPhone sales on Monday.Apple recorded net revenue for its first fiscal quarter, ended Dec. 29, of $9.6 billion, a 35 percent year-over-year increase, beating estimates of $9.47 billion from analysts polled by Thomson Financial.The company posted quarterly net profit of $1.58 billion, an increase from the $1 billion net profit from the year-earlier quarter. The company recorded earnings of $1.76 per share.Unit shipments of the iPod were 22.1 million units, a 5 percent growth over the year-earlier period. Apple sold 2.3 million iPhones during the quarter, a sequential increase from the 1.12 million iPhones it shipped in its fourth fiscal quarter. Apple shipped 2.3 million Macintosh computers, a 44 percent growth from the year-earlier quarter.According to figures from IDC, Apple&#39;s PC shipments in the U.S. grew 30.9 percent to 1.06 million during the fourth quarter last year with a 5.7 percent market share, behind Dell, Hewlett-Packard, and HP. Apple was not among the top five vendors in PC shipments worldwide, according to IDC.Apple announced Mac OS X Leopard operating system this quarter. It started off the new quarter with a bang, announcing&#160;a movie rental service for iTunes and a skinny laptop, the MacBook Air, which CEO Steve Jobs proclaimed was the &quot;world&#39;s thinnest notebook&quot; during a keynote address at the&#160;Macworld Conference and Expo in San Francisco.A week prior to Macworld, Apple announced revamped versions of the Mac Pro workstations and Xserve servers powered by Intel&#39;s power-efficient Penryn processors.
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Apple said its revenue rose by 35 percent to $9.6 billion in its year-ending business quarter, driven by record Macintosh, iPod and iPhone sales as well as strong demand for the company's latest software release. Net profit rose to $1.58 billion, or $1.76 per share, versus $1 billion in the fourth quarter of 2006.
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Hewlett-Packard 1Q Profit Up 26 Percent
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As expected, it was another great quarter for Apple, with Mac shipments leading the way as the company sold more than a million iPhones.
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Apple announced first quarter financial results, with a net profit of $295 million or $.70 per diluted share. These results compare to a net profit of $63 million or $.17 per diluted share in the year-ago quarter. Revenue for the quarter was $3.49 billion, up 74% from a year ago. Gross margin was 28.5%, up from 26.7% a year ago. International sales accounted for 41% of revenue. [Jan 12, 2005]