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80,259 News Articles

Apple makes $1bn despite weak iPod growth

Strong Mac shipments boost Apple's Q2

Strong sales of Apple's Mac computers helped Apple report strong earnings for the second quarter of 2008, despite weak growth in iPod shipments.

The company's net revenue was $7.51bn for the quarter that ended March 29, a 43 percent rise from last year's second quarter. Analysts polled by Thomson Financial estimated revenue would be $6.96bn for the quarter. The company's net profit was $1.05bn, a rise from the $770m it reported last year.

Apple shipped 2.3 million Macs, a 51 percent rise in units and 54 percent revenue growth from the year-ago quarter. It sold 10.6 million iPods, a 1 percent growth in units and 8 percent growth in revenue from a year ago. iPhone sales for the quarter were 1.7 million.

The company is excited about new products in the pipeline, said Chief Financial Officer Peter Oppenheimer during a call to discuss the results. When asked about the possible release of a 3G iPhone, Apple executives declined comment.


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