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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.
"We’re proud to report the best June quarter for both revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s chief executive in a statement."We’re proud to report the best June quarter for both revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s 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 we’re 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 we’re busy finishing several more wonderful new products to launch in the coming months."