Record Mac sales give Apple stellar quarter

22-07-2008

by Silicon.com

Apple has reported record Mac sales and one of its best third quarters ever.

For the company's third fiscal quarter, which ended 28 June, Apple reported USD7.46 billion in revenue and net profit of USD1.07 billion, equal to USD1.19 per share. That far exceeds the company's own guidance for the quarter and also beats Wall Street's expectations of USD7.37 billion and USD1.08 per share.

Mac sales were about in line with expectations, at 2.5 million units shipped during the quarter, and iPod shipments were actually a little higher than expected, at 11 million units. Mac shipments grew 41 percent, while iPod shipments grew 12 percent.

Apple's guidance for the upcoming quarter, however, was well below Wall Street forecasts. The company said to expect USD7.8 billion in revenue and earnings per share of USD1, while analysts were looking for USD8.3 billion in revenue and USD1.24 in profits per share.

iPhone sales were 717,000 during the quarter, which was in line with expectations. iPhone sales were much lower due to the supply issues Apple ran into around the middle of May, but things have certainly picked up since then, with 1 million iPhone 3Gs out there already and lines and shortages awaiting those who want one now.

Tom Krazit writes for CNET News.com.

Reprinted with permission from Silicon.com

Original article: Mac shipments set an Apple record from CNET News.com