Apple earnings grow 88 percent year-over-year
Posted by Dennis Sellers 
Apr 25, 2007 at 4:36pm
Apple has announced financial results for its fiscal 2007 second quarter that ended March 31, 2007. The company posted revenue of US$5.26 billion and a net quarterly profit of $770 million, or $.87 per diluted share. These results compare to revenue of $4.36 billion and net quarterly profit of $410 million, or $.47 per diluted share, in the year-ago quarter.
Gross margin was 35.1 percent, up from 29.8 percent in the year-ago quarter. International sales accounted for 43 percent of the quarter’s revenue. Apple shipped 1,517,000 Macs and 10,549,000 iPods during the quarter, representing 36 percent growth in Macs and 24 percent growth in iPods over the year-ago quarter.
“The Mac is clearly gaining market share, with sales growing 36 percent—more than three times the industry growth rate,” says Apple CEO Steve Jobs. “We’re very excited about the upcoming launch of iPhone in late June, and are also hard at work on some other amazing new products in our pipeline.”
“We are very pleased to report the most profitable March quarter in Apple’s history,” said Peter Oppenheimer, Apple’s chief financial officer. “Looking ahead to the third fiscal quarter of 2007, we expect revenue of about $5.1 billion and earnings per diluted share of about $.66.”
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
