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Apple Posts Higher Q3 Profits, Sales

7/22/2008 11:36:00 AM Eastern

Cupertino, Calif. — Apple reported higher net profit and sales for its third quarter, ended June 28, due to higher sales of Macintosh computers, iPods and iPhones.

Apple said fiscal 2008 third-quarter revenue was $7.46 billion and net quarterly profit of $1.07 billion. These results compare to revenue of $5.41 billion and net quarterly profit of $818 million in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarter’s revenue.

Apple shipped almost 2.5 million Macintosh computers during the quarter, representing 41 percent unit growth and 43 percent revenue growth over the year-ago quarter. Apple sold more than 11 million iPods during the quarter, representing 12 percent unit growth and 7 percent revenue growth over the year-ago quarter. Quarterly iPhone units sold were 717,000, compared with 270,000 in the year-ago-quarter.

“We’re proud to report the best June quarter for both revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO. “We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we’re busy finishing several more wonderful new products to launch in the coming months.”

“We’re extremely pleased with the growth of our business and the generation of almost $5.4 billion in cash in the first three quarters of fiscal 2008,” said Peter Oppenheimer, Apple’s chief financial officer. “Looking ahead to the fourth quarter of fiscal 2008, we expect revenue of about $7.8 billion and earnings per diluted share of about $1.”

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