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Strong Mac sales boost Apple's quarterly earnings

Buoyed by strong Mac sales, Apple reported strong earnings for the second quarter of 2008.
  • Agam Shah (IDG News Service)
  • 23 April, 2008 21:06

Apple on Wednesday reported strong earnings for the second quarter of 2008, with Macintosh computer sales overriding weak growth in iPod shipments.

The company's net revenue was US$7.51 billion 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 $6.96 billion for the quarter.

The company's net profit was $1.05 billion, a rise from the $770 million it reported last year. Earnings per share were $1.16.

Apple shipped 2.3 million Macintosh computers, 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.

(More to follow.)