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July 14, 2005

Apple Continues to Set Records

Macworld: Apple continues to set revenue and earnings records with its Q3 financials. As expected, iPod sales continue to skyrocket reaching 6,155,000 units (an amazing 616 percent growth) exceeding most analyst's predictions for Apple's fiscal third quarter 05, which ended in June. The company’s results are the highest revenue and earnings in Apple’s history as the digital music market leader reported revenues of $3.52 billion and profits of $320 million - which dwarfs earnings from a year earlier when profits were $61 million on revenues of $2.01 billion...

Apple also shipped over a million Macs - which is a 35 growth in units shipped for the same quarter a year ago. Portables (including iBooks and PowerBooks) totalled 495,000 units, for $720 million in revenue, which set a new quarterly record. According to Apple CFO Peter Oppenheimer, "We’re very pleased to report 75 percent revenue growth and a 425 percent increase in net income...Looking ahead to the fourth quarter of fiscal 2005, we expect revenue of about $3.5 billion"

Oppenheimer also said that growth for the quarter was three times the rate of the rest of the industry and iPods have more than 70 percent marketshare (the closest competitor only has roughly 5 percent marketshare.) The iTunes Music Store’s share of legally purchased and downloaded music has increased to more than 80 percent, according to Neilsen Soundscan. Apple is averaging almost 9,000 customers per store, per week and the company plans to have 125 stores worldwide by year’s end...Click HERE to listen in on yesterday's conference call (requires Quicktime)

--Apple Quarterly Profit Surges on iPod

Posted by Todd in Apple | Permalink


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