Apple 2Q profit gains 15 percent, beats Street

April 22, 2009 By JESSICA MINTZ , AP Technology Writer
Apple 2Q profit gains 15 percent, beats Street (AP)

Enlarge

In this April 21, 2009 photo, a customer looks at an Apple iPhone running the Pandora Radio iPhone application at an Apple store in Palo Alto, Calif., Tuesday, April 21, 2009. Apple Inc. says its profit jumped 15 percent in the last quarter, well ahead of Wall Street's expectations despite the global economic downturn. (AP Photo/Paul Sakuma)

(AP) -- Strong sales of the iPhone helped Apple Inc. lift its quarterly profit 15 percent, well ahead of Wall Street's expectations Wednesday despite the global economic downturn.

The company also said co-founder still plans to return from his medical leave as scheduled.

"We look forward to Steve returning to at the end of June," Apple's , Peter Oppenheimer, said in a conference call with analysts. Jobs, a survivor of pancreatic cancer, stepped away from his day-to-day responsibilities as CEO in January.

For the three months ended March 28, Apple's fiscal second-quarter earnings rose to $1.21 billion, $1.33 per share. In the same period last year Apple earned $1.05 billion, or $1.16 per share.

Analysts surveyed by Thomson Reuters had forecast a per-share profit of $1.09.

Sales increased 9 percent to $8.16 billion, topping analyst expectations for $7.96 billion.

"Gee, given what's going on around us, we couldn't be happier," Oppenheimer said in an interview.

Cupertino, Calif.-based Apple said it sold 3.8 million iPhones in the quarter, more than twice as many as a year ago. Earlier Wednesday, the iPhone's exclusive U.S. carrier, AT&T Inc., said its earnings were also helped by the popularity of the device.

Apple also sold 11 million iPods, up 3 percent.

But its Macintosh computer line didn't fare quite as well. People bought 2.2 million Macs, a 3 percent drop. Apple updated its desktop line in March, but didn't cut prices.

For the current fiscal third quarter, the company issued typically conservative guidance of 95 cents to $1 per share in profit on $7.7 billion to $7.9 billion in revenue. Analysts are looking for a of $1.12 per share on $8.28 billion in sales.

Apple's shares added $3.33, nearly 3 percent, to $124.84 in after-hours trading after slipping 25 cents to end the regular session at $121.51.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Rank 5 /5 (1 vote)
Related Stories
Relevant PhysicsForums posts
  • Need help reading 3-D
    created9 hours ago
  • A way to send and receive wireless data
    created15 hours ago
  • Tabletop Cold Fusion Reactor
    created17 hours ago
  • Calling function with no input argument
    createdFeb 10, 2012
  • Force free body diagram problem on gym equipment
    createdFeb 10, 2012
  • Empirical data regarding shower heads and water
    createdFeb 10, 2012
  • More from Physics Forums - General Engineering

More news stories

Walney offshore wind farm is world's biggest (for now)

(PhysOrg.com) -- The Walney wind farm on the Irish Sea--characterized by high tides, waves and windy weather--officially opened this week. The farm is treated in the press as a very big deal as the Walney ...

Technology / Energy & Green Tech

created 18 hours ago | popularity 3.9 / 5 (10) | comments 32 | with audio podcast weblog

GPS court ruling leaves US phone tracking unclear

A US Supreme Court decision requiring a warrant to place a GPS device on the car of a criminal suspect leaves unresolved the bigger issue of police tracking using mobile phones, legal experts say.

Technology / Telecom

created 18 hours ago | popularity 4 / 5 (2) | comments 0

Europeans protest controversial Internet pact

Tens of thousands of people marched in protests in more than a dozen European cities Saturday against a controversial anti-online piracy pact that critics say could curtail Internet freedom.

Technology / Internet

created 14 hours ago | popularity 4.5 / 5 (8) | comments 0

Netflix settlement trims 14 pct off 4Q earnings

(AP) -- Netflix pressed the rewind button on its fourth-quarter earnings after settling allegations that the video subscription service violated a consumer-privacy law.

Technology / Business

created 18 hours ago | popularity not rated yet | comments 0

Navy to begin tests on electromagnetic railgun prototype launcher

The Office of Naval Research (ONR)'s Electromagnetic (EM) Railgun program will take an important step forward in the coming weeks when the first industry railgun prototype launcher is tested at a facility ...

Technology / Engineering

created Feb 06, 2012 | popularity 4.7 / 5 (15) | comments 92 | with audio podcast


Europe stakes billion-dollar bet on new rocket

A pencil-slim rocket is scheduled to lift into space from South America on Monday, carrying a billion-dollar bet that Europe can grab a juicy slice of the market to place satellites in low orbit.

Study finds that anti-diabetic medication can prevent the long-term effects of maternal obesity

In a study to be presented today at the Society for Maternal-Fetal Medicine's annual meeting, The Pregnancy Meeting, in Dallas, Texas, researchers will report findings that show that short therapy with the anti-diabetic medication ...

Explained: Sigma

It's a question that arises with virtually every major new finding in science or medicine: What makes a result reliable enough to be taken seriously? The answer has to do with statistical significance -- but ...

Political leaders play key role in how worried Americans are by climate change: study

More than extreme weather events and the work of scientists, it is national political leaders who influence how much Americans worry about the threat of climate change, new research finds.

New power source discovered

(PhysOrg.com) -- Researchers at the Massachusetts Institute of Technology (MIT) and RMIT University have made a breakthrough in energy storage and power generation.

NASA budget will axe Mars deal with Europe: scientists

US President Barack Obama's budget proposal to be submitted next week for 2013 will cut NASA's budget by 20 percent and eliminate a major partnership with Europe on Mars exploration, scientists said Thursday.