Strong Mac, iPhone sales boost Apple's earnings
By
Agam Shah
,
IDG News Service
, 07/21/2008
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Apple on Wednesday reported strong earnings for the third quarter of 2008, buoyed by strong iPod and iPhone sales.
Net quarterly income for Apple was US$1.07 billion, compared to $818 million for the year-earlier quarter. Earnings per share
were $1.19, which beat analyst estimates. Analysts polled by Thomson Financial estimated net income for the quarter ended
June 28 to be $976 million and earnings per share of $1.08.
Net revenue was $7.46 billion, beating analyst estimates of $7.37 billion.
The company sold 717,000 iPhone units during the quarter, compared to 270,000 a year ago. Macintosh shipments amounted to
2.5 million during the quarter, growing 41 percent year-over-year, with revenue growth of 43 percent. IPod shipments totaled
11 million units, a 12 percent unit growth and 7 percent year-over-year revenue growth.
Expectations are high with the new iPhone 3G, which was launched in this quarter and sold 1 million units over the weekend,
according to analyst estimates.
"We think we have a real winner with our new iPhone 3G, and we're busy finishing several more wonderful new products to launch
in the coming months," said Steve Jobs, Apple CEO, in a statement.
The IDG News Service is a Network World affiliate.
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