July 21st, 2008
Apple Q3 2008 earnings: revenue up 38%; Mac shipments up 41% (updated)
Apple announced their fiscal third quarter 2008 financial results today in a conference call with analysts. A press release and a re-broadcast of the audio webcast is available on Apple’s investor relations Web site and you can subscribe to the Apple Quarterly Earnings Call podcast in iTunes.
Apple announced that the company’s third quarter profit climbed 31 percent to US$1.07 billion on strong sales of Macs and iPods. Total sales rose 38 percent to US$7.46 billion. Apple shipped nearly 2.5 million Macs during the quarter, up 41 percent from a year earlier, while iPod shipments grew 12 percent to over 11 million.
As of this writing AAPL stock is down over 10 percent in after-hours trading due to Apple’s conservative guidance for the fiscal fourth quarter.
Apple forecast fourth-quarter earnings of $1.00 per share and revenue of $7.8 billion, compared with average Wall Street targets of $1.25 per share — out of a range of $1.13 to $1.41 — on $8.3 billion in revenue, according to Reuters Estimates.
Jason D. O'Grady is the editor of PowerPage.org, which has been publishing daily mobile technology news since December 1995. For disclosures on Jason's industry affiliations, click here or to view Jason's full profile click here.
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