Wednesday, April 23, 2008

Apple's net income up 36% in second quarter of 2008

Apple posted net income of $1.05 billion, or $1.16 per share, up 36% from a year ago. Sales topped $7.51 billion, up 43% from the same quarter a year ago. In January, Apple predicted second-quarter earnings of 94 cents per share on about $6.8 billion in revenue, compared with 87 cents per share on $5.26 billion revenue in the corresponding quarter a year ago. For its fiscal third-quarter, Apple Chief Financial Officer Peter Oppenheimer said the company expects to earn $1 a share on revenue of $7.2 billion. Analysts had previously forecast Apple to earn $1.09 a share on $7.23 billion in sales.

The company said it sold 2.29 million Mac computers in the quarter, topping the 2.04 million to 2.2 million range of five analysts' forecasts.

Apple sold 10.6 million iPods and 1.7 million iPhones in the quarter. Analysts were mostly looking for iPod shipments in the range of 9.5 million to 11 million, and iPhone sales in the 1.4 million to 1.8 million range.

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