Apples $818m in profit

Apple posted revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, compared with revenue of $4.37 billion and net quarterly profit of $472 million ($.54 per diluted share) in the year-ago quarter. The numbers were well ahead of street consensus estimates of $5.28 billion and $0.72. The company's gross margin was nearly 37 percent, up from 30.3 percent in the year-ago quarter, while international sales accounted for 40 percent of the quarter's revenue. Apple said it shipped 1,764,000 Macs, representing 33 percent growth over the year-ago quarter and exceeding the previous company record for quarterly Mac shipments by over 150,000. Apple also sold 9,815,000 iPods during the quarter, representing 21 percent growth over the year-ago quarter.

"We're thrilled to report the highest June quarter revenue and profit in Apple's history, along with the highest quarterly Mac sales ever," said Steve Jobs, Apple's CEO. "iPhone is off to a great start -- we hope to sell our one- millionth iPhone by the end of its first full quarter of sales -- and our new product pipeline is very strong."

"We are very pleased to report strong financial results including cash flow from operations exceeding $1.2 billion for the quarter," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the fourth fiscal quarter of 2007, we expect revenue of about $5.7 billion and earnings per diluted share of about $.65."

by MacNN Staff