Apple profits leap by 48%

Apple profits leap by 48%


Wall Street analysts expected sales of iPods to fall last quarter, largely because there hasn’t been a new model in a year. Turns out that analysts aren’t always right.

Apple has announced a profit of $472 million last quarter, which is well over the expected level – the profit of 54 cents per share shattered their estimate of 44 cents per share. Sales for the three month period totaled $4.4 billion, which is up 24% over last year, while profit jumped by 48%. Shares were up significantly on the news.

The obvious driving force for the company is the iPod, which showed it still has legs. The company sold 8.1 million iPods in the quarter, which is 32% more than the year before.

The iPod had help, though: computer sales were up by 12%, driven by demand for the Intel machines. One area of computer sales that was down was professional models, as users like graphic designers and artists are waiting for Intel chips to come to the PowerMacs, which should happen by the end of the year.