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July 25, 2008 11:45:06 AM CDT

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Apple Fourth Quarter Swamps Wall Street Estimates

Posted Oct 22, 07 11:57 PM CDT in Technology,  Business 

(Newser) – Apple reported yesterday that it dramatically outstripped estimates for fourth-quarter profits, news that bumped the company's stock up 6% in after-hours trading. Apple saw $6.22 billion in sales this quarter for earnings of $904 million ($1.01 per share), a 67% improvement over the same time last year. Analysts were expecting earnings of 86 cents on sales of $6.07 billion, repors the Merc-News.

The company also put forth rosy estimates for the next quarter, which covers the holiday season, of $1.42 a share on $9.2 billion in sales, better even than analysts' predictions of $1.39 a share. Computers, particularly laptops, were the highlight of Apple's sales reports, with iPod sales growth slowing. A revamping of the music player line may recharge iPod growth rates next quarter.

Source San Jose Mercury News

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An unidentified customer looks at an Apple Computer Inc. MacBook Pro on display at an Apple Store in Palo Alto, Calif., in this March 1, 2006 file photo. (AP Photo/Paul Sakuma, file)   (Associated Press)
Apple CEO Steve Jobs introduces the new Apple iPod Touch in San Francisco, in this Sept. 5, 2007, file photo. Apple Inc.'s fiscal fourth-quarter profits jumped 67 percent and easily beat Wall Street expectations,...   (Associated Press)
A customer leaves an Apple store with her new Apple MacBook in Palo Alto, Calif., Friday, Oct. 19, 2007.   (Associated Press)
Advertisement for the Apple iPod Nano on display at an Apple store in Palo Alto, Calif., Friday, Oct. 19, 2007. Apple Inc. blew past its earnings target when it reported its fourth fiscal quarter results...   (Associated Press)
Apple iPod Nanos are seen on display in San Francisco, Wednesday, Sept. 5, 2007. Portable music players are one of the most wished for item for the holidays, according to an annual U.S. survey by the...   (Associated Press)
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Apple  • iPhone  • computer  • iPod  • quarterly earnings  • laptop  • Macintosh  • profit growth


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