Apple's 2Q Revenue Rises, But Profits Slump - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Business & Finance

Apple's 2Q Revenue Rises, But Profits Slump

Sales in the quarter were up 8%, thanks to brisk sales of laptops and iPods, but net income was down 41%.

SAN JOSE, Calif. (AP) -- Apple Computer Inc.'s third-quarter profits fell by 41 percent, though revenues rose enough to beat Wall Street's earnings expectations.

For the three months ended June 28, Cupertino-based Apple said Wednesday it earned $19 million, or 5 cents per share, compared with a profit of $32 million, or 9 cents per share, in the same period last year.

Revenue for the quarter was $1.5 billion, up 8 percent from $1.43 billion a year ago.

Analysts surveyed by Thomson First Call had projected earnings of 3 cents a share on revenue of $1.49 billion.

Apple officials attributed the increase in revenue--the highest level in 11 quarters--to robust sales of laptops and the iPod portable music player. Also, sales in the education market, a traditional stronghold for Apple, bucked industry analyst predictions and rose 5 percent from the previous year, said Fred Anderson, Apple's chief financial officer.

Apple said it shipped 770,000 Macintosh computers in the quarter.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
What Comes Next for the COVID-19 Computing Consortium
Joao-Pierre S. Ruth, Senior Writer,  11/24/2020
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Register for InformationWeek Newsletters
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll