Apple Computer Inc. on Wednesday posted a 48 percent increase in quarterly net income as it sold more iPod digital music players and Intel Corp.-powered Macintosh computers.
Apple said it shipped 1.33 million Macintosh computers in the quarter and 8.11 million iPods, increases of 12 percent and 32 percent, respectively, year over year. iPod shipments also topped some analysts' estimates of 8 million for the period and shares rose 5.0 percent in extended trade.
Apple said net income for its fiscal third quarter, ended July 1, rose to $472 million, or 54 cents per share, from $320 million, or 37 cents per share, a year earlier. Revenue rose 24 percent to $4.37 billion from $3.52 billion.
Analysts expected Apple to earn 44 cents per share, on average, within a range of 40 cents to 49 cents, on revenue of $3.68 billion, according to Reuters Estimates.
While sales of iPods are still rising at a respectable clip, concerns of a slowing sales growth rate have arisen in recent months, and shares of Apple are down some 24 percent since early May.
"We're thrilled with the growth of our Mac business, and especially that over 75 percent of the Macs sold during the quarter used Intel processors," said Apple Chief Executive Steve Jobs in a statement.
For the current quarter, Apple forecast earnings per share of 46 cents to 48 cents, on revenue of $4.5 billion to $4.6 billion.
Analysts currently expect Cupertino, California-based Apple to earn 51 cents per share, on average, within a range of 43 cents to 60 cents, on revenue of $4.89 billion.
Based on Tuesday's closing prices, Apple shares so far this year have declined 26 percent, compared with a 12 percent decline in the Morgan Stanley High Technology Index , of which Apple is a component. Apple stock more than doubled in 2005, after tripling in 2004, largely on booming sales of the iPod.
