It might seem unbelievable, but Apple has announced an increase in profits of a staggering 73% for the second quarter. But then again, they did have the iPhone launch – all two days of it in the quarter. And in those two days Apple sold 270,000 iPhones, although only 146,000 were immediately activated,according to figures released by carrier AT&T. Apple now expects to sell a million iPhones by the end of 2007 (by comparison, it took two years to sell a million iPods). However, the profit increase wasn’t just driven by the new product. Apple gained on all fronts, shipping 1.76 million Mac computers, an increaseof one-third over the same quarter in 2006, and 9.82 million iPods, a 21% increase. Apple’s revenue for the quarter beats its own projection of $5.1 billion to come in at $5.41 billion.That’s up from $4.37 billion last year. “We’re thrilled to report the highest June quarter revenue and profit in Apple’s history, along with the highest quarterly Macsales ever,” said Steve Jobs, Apple’s chief executive. Shares in the company have risen over 50% since the iPhone was announced in January, and closed at $12.92, up 9%, in after-hourstrading.
Editors' Recommendations
- This legendary Apple computer might sell for up to $500,000
- There’s a reason this Apple II manual auctioned for nearly $800K
- Steve Jobs’ 1973 job application is now in an unusual auction
- Bob Iger says Disney and Apple would have merged if Steve Jobs was still alive
- Even Apple co-founder Steve Wozniak thinks Big Tech has gotten too big
