Apple said today its profit jumped 26 percent in its fiscal fourth quarter as the newest iPhone 3G outsold the market-leading BlackBerry...
Apple said today its profit jumped 26 percent in its fiscal fourth quarter as the newest iPhone 3G outsold the market-leading BlackBerry from Research in Motion.
For the three months ended Sept. 27, Apple’s profit climbed to $1.14 billion, or $1.26 a share, from $904 million, or $1.01 a share in the same period last year.
Sales jumped 27 percent to $7.9 billion from $6.22 billion in the year-ago quarter.
Cupertino, Calif.-based Apple’s profit topped Wall Street’s expectations, but sales missed forecasts. Analysts had expected the company to sell $8 billion worth of Macintosh computers, iPods, iPhones and other gadgets, for a profit of $1.11 a share, according to a Thomson Reuters poll.
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Peter Oppenheimer, Apple’s chief financial officer, said today that Apple set records for Macintosh sales and for iPod sales in a non-holiday quarter, but that iPhone results marked the brightest spot. The company sold 6.9 million of its next-generation iPhone 3G in the quarter — more than the 6.1 million total first-generation iPhones sold.
Research in Motion reported it sold 6.1 million BlackBerry smart phones in the quarter that ended Aug. 30.
“We blew it out on the iPhone,” Oppenheimer said.
Apple said it sold 2.6 million Macs and 11.1 million iPods in the quarter, allaying fears that the sluggish economy would weigh on Apple’s back-to-school sales.
Shares of Apple fell $6.95, or 7.1 percent, to close at $91.49. In extended trading after the earnings report, the stock gained back $2.01.