Apple's quarterly revenue hits €3.5bn
Apple, also the maker of Macintosh computers, said net income for its second fiscal quarter ended April 1 rose to $410m (€331m), or 47 cents per share, from $290m (€234m), or 34c per share, in the year ago period. Revenue rose 34% to $4.36 billion (€3.52bn) from $3.24bn (€2.62bn).
Analysts had expected a profit of 43c (€0.35) per share before items, on average, within a wide range of 38c to 49c (€0.31-0.40), on revenue ranging between $4.27bn (€3.45bn) and $4.88bn (€3.94bn), with an average of $4.5bn (€3.63bn), according to Reuters Estimates.
The iPod player, which Apple introduced in October 2001, has rejuvenated the Mac maker and it has more than 60% of the market for digital music players.
Apple is also in the midst of moving its entire computer product line to using Intel Corp chips from those made by IBM.
So far this year, the company's shares have declined by nearly 10%, based on Tuesday's close. But in 2005, the stock more than doubled, and it tripled in 2004, far outperforming the stocks of rival computer makers.
