Apple profit climbs 47% on iPhone and Mac Sales

October 20, 2009

(ChattahBox) — Apple blew away Wall Street’s expectations with a fiscal fourth-quarter report (that ended Sept. 26) where profits surged 47% and revenues climbed 25% fueled by record sales of the iPhone and Macintosh computer sales.  Unit sales of iPhones rose 7 percent and Macintosh computer shipments jumped 17 percent.  Overall profit increased to a record $1.67 billion, or $1.82 a share, from $1.14B or $1.26 a share, shattering the Wall Street consensus forecast of $1.42 and posting its second highest quarterly total ever. In after-hours trading, Apple stock shot up 7.5 percent to more than $204 in extended trade.

The report, for Apple’s (AAPL) quarter continued a streak of strong earnings from tech-industry bellwethers. Texas Instruments Inc’s results today also beat expectations, though less dramatically, and the chip maker said its fourth quarter earnings should be stronger than current forecasts. Previously Google reported modest revenue gains, but double-digit improvement in paid clicks. Its net income rose 27%. While Intel did even better. Revenue improved 17% over last quarter, amid signs of greater consumer spending on tech products.


Comments

One Response to “Apple profit climbs 47% on iPhone and Mac Sales”

  1. John T on October 20th, 2009 7:21 am

    People really like Apple products ( I have the iphone and ipod ), but I think it is going to be difficult as Android adoption moves forward. The iphone is their leading product, they just need to keep with it. People still prefer the iphone over most other options

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