Mac sales boost Apple

27-07-2007

Mac sales boost Apple
Consumer electronics giant Apple has posted a 73 per cent increase in quarterly profits thanks to strong sales of its Mac computers.

The Californian-based firm said in the three months ending June 30th net profit was $818 million (£398.91 million), up from $472 million (£230.27 million) in the corresponding period last year.

Net revenue was revealed to have risen 24 per cent against the same quarter in 2006, rising to $5.41 billion (£2.64 billion).

In the last three months Apple said it shipped 1.76 million Apple Macs, up 33 per cent, while sales of its iPod MP3 player enjoyed a 21 per cent boost to 9.81 million.

And the company's much-hyped iPhone, which was only available for two days of the last quarter, sold 270,000 units on its first two days of sale in the US, which was at the low end of analyst expectations.

"We're thrilled to report the highest June quarter revenue and profit in Apple's history, along with the highest quarterly Mac sales ever," commented Apple chief executive officer Steve Jobs.

"[The] 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."

Peter Oppenheimer, chief financial officer, added: "We are very pleased to report strong financial results including cash flow from operations exceeding $1.2 billion (£585 million) for the quarter.

"Looking ahead to the fourth fiscal quarter of 2007, we expect revenue of about $5.7 billion (£2.78 billion) and earnings per diluted share of about $0.65 (£0.32)."

Unveiled earlier this year, the iPhone combines the traditional functions of a mobile phone with a 3.5in widescreen iPod, a Wi-Fi internet hub and a two megapixel camera.

As with Apple's market-leading MP3 player, the device employs touchscreen technology, but also includes motion sensitive capabilities.
The iPhone has been made initially available in 4GB and 8GB models priced at $499 (£257) and $599 (£309) respectively.

Apple expects to launch the phone in Europe at the end of 2007, but has as yet given no indication on price.


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