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Apple sees profits beat forecast Apple sees profits beat forecast
(40 minutes later)
US technology giant Apple has seen profits beat forecasts, due to strong demand for Mac computers and iPods. US technology giant Apple has seen profits beat forecasts, but warned that current quarter profits would fail to meet analysts forecasts.
The firm saw profit climb to $1.07bn (£534m) in the fiscal third quarter, up 31% from $818m from a year earlier. Profits rose to $1.07bn (£534m) in the fiscal third quarter, up 31% from $818m from a year earlier.
However, despite beating market forecasts the firm predicted lower earnings ahead.
The company shipped 2.5 million Macs in the quarter, marking a rise of 41% year-on-year, while shipments of its iPod music player rose 12%.The company shipped 2.5 million Macs in the quarter, marking a rise of 41% year-on-year, while shipments of its iPod music player rose 12%.
The downbeat outlook sent shares 6% lower in after-hours trade.
While the results were ahead of expectations, and the firm said the number of Mac computers shipped marked a record, the warning of lower sales concerned investors.
Shares fell $10.40, or 6.3% to $155.89 after the bell, before rising $1.34 during the day.
Chief financial officer Peter Oppenheimer said that even as the economy slowed, US sales increased quicker than total revenue.