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Apple Soars

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by Silicon Valley/San Jose Business Journal
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Oct 19 2009 5:02pm EDT

Apple Soars

The Silicon Valley/San Jose Business Journal writes: Apple Inc. handily beat Wall Street's earnings projections with a 46 percent fourth quarter profit jump to $1.67 billion, or $1.82 a share, on a 20 percent rise in revenue to $9.87 billion.

Analysts had expected the company to post $1.42 per share earnings on revenue of $9.2 billion.

The company said its iPhone sales rose by 7 percent in quarter ended September 26 to 7.4 million units.

During the quarter, Apple also said it sold 10.2 million iPods , an 8 percent increase, and 3.05 million of its Macintosh computers, up 17 percent.

Looking ahead, Apple projected earnings in the current quarter will be between $1.70 and $1.78 a share, and revenue will be between $11.3 billion and $11.6 billion.

"We are thrilled to have sold more Macs and iPhones than in any previous quarter," said CEO Steve Jobs, in a prepared statement. "We've got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010."

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