Apple Q4 Profits Boosted by iPhone and Mac Sales
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Apple today reported strong earnings for its fourth quarter, boosted by record Macintosh computer sales and the shipment of 1.12 million iPhones.
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Apple Inc. reported Tuesday its best quarter ever as profits soared to 1.58 billion dollars in the last three months of 2007 on demand for its Macintosh computers, iPhones and iPods.
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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 reports a 50% jump in fourth quarter profit, driven by strong demand for its iPod music player.
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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.
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Apple announced financial results Monday that were the corporate equivalent of a grand slam. With the iPod, iPhone, and Mac computer on base, the company hit a home run in its fiscal fourth quarter.
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Apple said that its fiscal first-quarter earnings jumped about 57 percent, aided by iPod and iPhone sales, but shares plunged on an outlook that was well below expectations.
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Apple on Monday reported a $904 million profit or $1.01 per diluted share on revenue of $6.22 billion for its fiscal fourth quarter. The quarter was strengthened by record Mac sales as well as high iPod and iPhone sales.
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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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Stocks ended higher in a holiday-shortened session on Tuesday, helped by news that Apple Inc.  could see higher-than-expected profit margins from its iPhone and data showing a rise in factory orders.
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Rise in Q3 income bolstered by BellSouth acquisition and 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 reported revenue for the quarter of $2.35 billion, up 37% from the $1.72 billion recorded during last year's fourth quarter.
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Shares of Apple Computer Inc. rose more than 10% in early trading today, boosted by its report that quarterly profit and revenue jumped on robust sales of its iPod digital music players, and optimism for the current quarter.
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Apple Computer Inc.'s first-quarter earnings more than quadrupled, dramatically exceeding Wall Street expectations, based on strong holiday sales of laptop computers and its wildly popular iPod music players.
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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 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.