Apple Fourth Quarter Swamps Wall Street Estimates
New Mac sales records lead earnings success
By Colleen Barry,  Newser Staff
Posted Oct 22, 2007 11:57 PM CDT
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)
camera-icon View 4 more images

(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.