Apple Inc. doubled its profits
Thursday, January 18, 2007
The American computer company Apple has reached 78 percent increase in its profits during the last quarter, which ended December 30, 2006. This fact is explained by great demand enjoyed by Apple's iPod digital music players during the Christmas and New Year sales period.
As a result of successful Christmas sales, the very beginning of the financial year marked a double increase of the Apple's sales if compared to the $ 565 million profit reaped during the same period of the last year. The company gained the record-breaking $ 1 billion. The overall annual revenue of the company made up $ 7.1 billion in 2006, having boosted from $5.8 billion in 2005. The company's revenue growth is partially explained by the fact that the laptops produced by Apple are also found among the bestsellers.
Even the Wall Street experts have not broadcasted such remarkable results for the Apple computer company. Apple's results were way ahead of market expectations. Its net profit has made up $1.14 per share, while Wall Street expected just 77 cents.
During the first quarter of the financial year Apple Inc. sold more than 21 million iPod players and about 1.6 million computers - it implies the respective growth of 28% and 50% again compared to the previous year. As soon as the results were announced at the New York Stock Exchange, the shares of the American computer company increased by 5 percent.
It should be mentioned that the stock capital of Apple Inc tripled in 2004, doubled in 2005 and increased by 16 percent in 2006. The steady growth is also due to considerable sales of its iPods and computers.
Last week the company presented the iPhone.
- "Cisco sues Apple for iPhone trademark" — Wikinews, January 16, 2007
- "Apple introduces iPhone and Apple TV" — Wikinews, January 11, 2007
- "The Financial Results of Apple are "For the record books"" — , January 18, 2007
- "Apple profits surge on iPod sales" — , January 17, 2007