Page last updated at 21:51 GMT, Monday, 21 July 2008 22:51 UK

Apple sees profits beat forecast

Apple CEO Steve Jobs holds the MacBook Air
Shipments of Mac computers rose 41% for the quarter

US technology giant Apple has seen profits beat forecasts, but warned that current quarter profits would fail to meet analysts' forecasts.

Profits rose to $1.07bn (£534m) in the fiscal third quarter, up 31% from $818m from a year earlier.

The company shipped 2.5 million Macs in the quarter, marking a rise of 41% year-on-year, while shipments of its iPod music player rose 12%.

The downbeat outlook sent shares 6% lower in after-hours trade.

While the results were ahead of expectations, and the firm said the number of Mac computers shipped marked a record, the warning of lower sales concerned investors.

Shares fell $10.40, or 6.3% to $155.89 after the bell, before rising $1.34 during the day.

Chief financial officer Peter Oppenheimer said that even as the economy slowed, US sales increased quicker than total revenue.

"We’re proud to report the best June quarter for both revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s chief executive in a statement.

"We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we’re busy finishing several more wonderful new products to launch in the coming months."




SEE ALSO
Apple lines up iPhone Asia deals
12 May 08 |  Business
Japan and Spain in iPhone deals
04 Jun 08 |  Business
Mac sales push up Apple profits
23 Apr 08 |  Business
Price cut knocks £100 off iPhone
15 Apr 08 |  Business
iTunes 'biggest US music seller'
04 Apr 08 |  Business
iPhone helps Apple ring up profit
23 Jan 08 |  Business

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