Apple profits surge 78% on strong iPod sales
updated 05:10 pm EST, Wed January 17, 2007
Apple profits surge 78%
Apple today posted a 78 percent increase in profit compared with the year ago on very strong iPod sales. Despite an on-going options scandal and a federal investigation, for the holiday quarter, the company posted a record profit of $1 billion on record revenues of $7.1 billion--easily beating analysts' consensus estimates of $0.78 on $6.42 billion. Revenue was up 24 percent from $5.75 billion a year; the company had forecast quarterly sales of $6 billion to $6.2 billion. According to its numbers, the company also saw a strong increase in sales of portables as well as strong growth in its Europe and retail segments, according to the data provided by the company. Looking ahead, Apple forecast fiscal second-quarter revenue in the range $4.8-4.9 billion. Analysts surveyed by Thomson First Call were expecting revenues of $5.22 billion for the March quarter.
Fresh-Faced Recruit
Joined: Apr 2005
HAHA
I knew the stock would crash on the insanely great news. Always bet on the morons! They'll never fail ya! LOLLLLL!! Those were the easiest few G's I ever made in under an hour! Not to fret though, the stock will be up again. Now that all the idiots have lost their money, those that were smart enough to pick them up will be smiling very soon.