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Apple Profit Surges, iPod Sales up 75% |
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Thursday, 14 July 2005 |
Apple Profit Surges, iPod Sales
up 75%
Forbes
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.
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."
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