Apple Sales Leap 75 Percent on iPod Sales
Apple Sales Leap 75 Percent on iPod SalesApple Sales Leap 75 Percent on iPod Sales
Thursday July 14, 1:11 am ET
By Greg Sandoval, AP Technology Writer
For Apple, Little Digital Musical Player Continues to Fuel Profits
SAN JOSE, Calif. (AP) -- Apple Computer Inc.'s iPods are still churning out startling financial results for the company, boosting revenue by 75 percent and fueling record profits in the latest quarter.
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For the three months ended June 25, Apple's net income rose to $320 million, or 37 cents per share, up from the $61 million and 8 cents per share the company reported in the year-ago quarter.
Sales grew to $3.52 billion from $2.01 billion last year.
Analysts surveyed by Thomson Financial expected the company to report earnings of 31 cents per share on revenue of $3.34 billion.
But Apple executives surprised some analysts by predicting that the company would not meet their expectations in the next quarter. For more than a year, Cupertino-based Apple has offered guidance that surpassed analyst expectations.
"It's been a long time since they guided down," said Shaw Wu, an analyst with American Technology Research. "It's kind of bizarre considering the September quarter is usually a strong back-to-school quarter for Apple."
The company shipped 1.2 million Macintosh computers and 6.2 million iPods, the overwhelming leader among digital music players, during the quarter. The numbers represents a 35 percent increase in Mac sales and more than a six-fold jump for iPods from the third quarter in 2004.
For the fourth quarter, Apple predicted earnings of 32 cents per share on revenue of $3.52 billion. Analysts were looking for profit of 33 cents per share on sales of $3.6 billion.
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