Apple posts $1.7 billion Q4 profit
Mac computer, iPhone sales give company a 46% boostApple made up for falling sales of iPods by selling more Mac computers and iPhones during the quarter than it ever has before, pushing the company to a $1.67 billion profit, up 46% over the year-ago frame.
The company co-founded by Steve Jobs reported on Monday that revenue rose 25% to $9.87 billion in the fiscal fourth quarter.
Revenue and profit both exceeded the expectations of Wall Street analysts and investors responded by bidding shares of Apple as much as 7% higher in after-hours trading, pushing it to a 52-week high.
During the regular session, shares of Apple closed 1% higher to $189.86, giving the company a market cap of $171 billion, more than three times that of Disney, where Jobs is a board member and largest shareholder.
Apple sold 10.2 million iPods in the quarter, down 8% from a year ago, even though sales of the iPod Touch versions doubled. Apple sold 7.4 million iPhones, up 7%, and 3.1 million Macs, up 17%.
Apple said its iTunes Store now offers 11 million different songs, 50,000 TV episodes and 7,500 movie titles.
Peter Oppenheimer, Apple's CFO, said on a conference call with analysts Monday that the company's remodeled Apple stores, with their Genius Bars and Creative Bars, have been a big hit with consumers. Jobs, in fact, is reportedly helping to revamp the Disney Stores.
Jobs, who was not on the conference call Monday, said in a statement that he was "delighted to have sold more Macs and iPhones than in any previous quarter. We've got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010."