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Apple sees profits beat forecast | Apple sees profits beat forecast |
(about 8 hours later) | |
US technology giant Apple has seen profits beat forecasts, but warned that current quarter profits would fail to meet analysts' forecasts. | US technology giant Apple has seen profits beat forecasts, but warned that current quarter profits would fail to meet analysts' forecasts. |
Profits rose 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. |
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. | 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. | 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. | 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. | Chief financial officer Peter Oppenheimer said that even as the economy slowed, US sales increased quicker than total revenue. |
"Weâre proud to report the best June quarter for both revenue and earnings in Appleâs history,â said Steve Jobs, Appleâs chief executive in a statement. | "Weâre proud to report the best June quarter for both revenue and earnings in Appleâs history,â said Steve Jobs, Appleâs chief executive in a statement. |
"We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and weâre busy finishing several more wonderful new products to launch in the coming months." | "We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and weâre busy finishing several more wonderful new products to launch in the coming months." |