Mac and iPod sales boost Apple profits
US technology giant, Apple, reported a profit gain of 36 percent in consumers cash in on Macintosh computers and iPod players.
International sales made up 44 percent of Apple's revenue, which totaled $7.51bn in the quarter beating Wall Street expectation of $6.96 billion.
Shares however took a 1 percent dip after the company, known for conservative financial forecasts, gave a below Wall Street profit estimate for the current quarter.
Apple shares fell $1.08, or less than 1 percent, to $161.81, in after-hours trading, climbing back from a dip of nearly 5 percent right after the close of trading and the release of the earnings report. The shares had closed up $2.69, or 1.7 percent, at $162.89.
The company forecast profits for the fiscal third quarter of $1 per share, short of the $1.10 per share in the average analyst estimate and at the low end of what all analysts polled were expecting.
The company expects sales of about $7.2 billion, slightly above the $7.16 billion Wall Street was expecting.
Apple sold 2.29 million Macs in the quarter, topping the 2.04 million to 2.2 million units forecast by five analysts.
Apple sold 10.6 million iPods and 1.7 million iPhones, both near the top end of Wall Street expectations
© Copyright IBTimes 2024. All rights reserved.