Apple revenue up 30pc, profit triples

15 Jul 2004

Apple has reported a net profit of US$61m for its fiscal third quarter results for 2004. Revenue for the quarter was US$2bn, up 30pc on the same quarter more than a year ago. Apple CEO Steve Jobs (pictured) attributed the results to healthy Mac sales as well as strong iPod and music-based revenue.

Apple shipped 876,000 Macintosh units and 860,000 iPods during the quarter, representing a 14pc increase in CPUs (central processing units) and a 183pc increase in iPods over the same quarter last year.

“It was an outstanding quarter – our highest third quarter revenue in eight years,” said Jobs. “Our Mac-based revenue grew a healthy 19pc and our music-based revenue grew an incredible 162pc. We’ve got a strong product portfolio, with some amazing new additions coming later this year.”

“We were very pleased with our 30pc year-over-year revenue growth and our operating margin expansion,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth quarter of fiscal 2004, we expect revenue of about US$2.1bn and earnings per diluted share of US$.16 to US$.17, including US$.01 per diluted share in restructuring charges.”

By John Kennedy