Apple posts $904M profit as Mac sales top 2 million


Apple posts $904M profit as Mac sales top 2 million
October 22, 2007 - Apple earned a profit of $904 million on revenue of $6.22 billion for its fiscal fourth-quarter ending September 29, the company announced Monday. Apple sold 2.164 million Macs, 10.2 million iPods, and 1.119 million iPhones during the quarter.

The results compare extremely favorably from the year-ago quarter, when Apple earned $542 million on $4.84 billion worth of revenue. Mac shipments grew 34 percent year over year, while iPod sales climbed 17 percent. Apple sold 817,000 desktop Macs and 1.347 million laptops.

"We are very pleased to have generated over $24 billion in revenue and $3.5 billion in net income in fiscal 2007," said Steve Jobs, Apple's CEO. "We're looking forward to a strong December quarter as we enter the holiday season with Apple's best products ever."

Apple's ended the quarter with $15.38 billion in cash, cash equivalents, and short-term investments, $1.68 billion higher than the previous quarter.

Apple's third-quarter earnings conference call begins at 5:00 p.m. ET and will be streamed live, as usual.

Shares of Apple closed up 2.3 percent Monday to finish the day at $174.36 ahead of earnings. They are up nearly 5 percent in after-hours.
Think Secret - Apple posts $904M profit as Mac sales top 2 million

Posted: Wed - October 24, 2007 at 09:11 PM          

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