Apple posts $28B quarter, announces Lion launch

From CNET News.com: Apple today once again surpassed estimates, posting record revenues for its most recent fiscal quarter and beating expectations in sales of its products across the board. The company also announced that it will launch the next version of Mac OS X tomorrow.

Apple reported a profit of $7.31 billion, or $7.79 per share, for the quarter ending June 19. That's more than double what the company reported at the same time last year.

Revenue for the quarter was $28.57 billion, up nearly 82 percent from the same quarter a year ago, and another record for the Cupertino, Calif.-based tech giant. The performance was $1.99 per share above the average estimate among analysts surveyed by Thompson Reuters' First Call, which pegged revenue at $24.92 billion, or $5.80 per share.

The company posted a gross margin of 41.7 percent, up 1.6 percent from the same quarter last year.

"We're thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent," Apple CEO Steve Jobs said in a statement. "Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall."

View: Article @ Source Site