Apple's Second Quarter Profit Jumps 90 Percent
Boosted by an increase in iPhone and Mac shipments, Apple reported a 90 percent increase in quarterly profits Tuesday.
The company reported net profit of US$3.07 billion for the quarter ended on March 27, which compares to profits of $1.62 billion from the same quarter a year ago. The company reported earnings per share of $3.33, which beat expectations of $2.45 from analysts polled by Thomson Reuters.
Revenue was $13.5 billion, a growth of 49 percent from the year-ago quarter. Revenue beat analysts' expectations of $12.03 billion.
Worldwide iPhone shipments totaled 8.75 million during the quarter, an increase of 131 percent compared to the year-ago quarter. Mac computer unit shipments worldwide totaled 2.94 million, an increase of 33 percent compared to the year-ago quarter. iPod shipments totaled 10.89 million, a 1 percent drop.
The company estimated its third-quarter revenue to be in the range of $13 billion to $13.4 billion, with earnings per share of about $2.28 to $2.39. The third quarter has started with a bang for Apple. The company on April 3 announced the iPad tablet computer, and sold close to 300,000 units on the first day.
"We've launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year," Apple CEO Steve Jobs said in a statement.
Anticipation for Apple's next-generation iPhone has also heated up after a prototype was said to be found in a California bar recently.