Apple Profit Soars On iPhone, Mac Sales

  • October 19, 2009
Driven by strong sales of the iPhone and Macintosh computer, Apple Inc. blew away analyst estimates Monday, posting a 47% surge in profit in its fiscal fourth quarter. Apple sold 7.4 million iPhones for the quarter ended Sept. 26 -- up 7% from a year ago and a 41% increase from the previous quarter. Mac sales, meanwhile, jumped 17% to 3.1 million from the year-earlier period.

"We are thrilled to have sold more Macs and iPhones than in any previous quarter," said Apple CE Steve Jobs, in a statement. "We've got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010."

Apple reported a quarterly profit of $1.67 billion -- or $1.82 a share -- compared to $1.14 billion, or $1.26 a share, a year ago. The company's gross profit margin increased to 36.6%, from 34.7% a year earlier. Revenue rose to $9.87 billion, up 24% from $7.9 billion. Wall Street analysts had expected Apple to report profit of $1.42 a share on revenue of $9.2 billion. For the current quarter, Apple projected earnings-per-share of $1.70 to $1.78 and revenue between $11.3 billion and $11.6 billion. Company shares closed at $189.86 Monday, but jumped 7% to surpass $200 in after-hours trading. --Mark Walsh



Next story loading loading..