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Apple posts $63M profit







Apple posts $63M profit

Apple posts $63M profit 01/16/2004 10:58 AM

Apple on Wednesday reported its results for the first quarter of its fiscal year 2004, which ended December 27, 2003. The company reported a net profit of US$63 million, or $0.17 per diluted share. The company noted that revenue for the quarter jumped 36 percent year over year, to $2.006 billion -- a four year high.




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Apple has announced its earnings for the for the fiscal year first quarter. For the quarter ended December 27, 2003 Apple posted a profit of $63 million or $.17 per diluted share. This compares to a loss of $8 million or $.02 per share in the year-ago quarter. Analysts were expecting $.14 per share profit. Revenue for the quarter was a four year high of just over $2 billion, which is up 36% from a year ago. "It was an outstanding quarter for Apple, with double-digit unit and revenue growth and over 730,000 iPods sold," said Steve Jobs, Apple’s CEO. "We’re kicking off 2004 with strong momentum, especially for Mac OS X, which is now used by almost 40 percent of our installed base, iPod and the iTunes Music Store, which has a 70 percent share of the legal music download market."

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