Third Quarter Sales Send Apple Stock Surging
07.26.07 - 09:47am
Apple’s stock surged on the news of super high quarterly revenue jumping $12.92, or 9.41 percent, in after hour trading to land at new highs of $150.18.
“We’re thrilled to report the highest June quarter revenue and profit in Apple’s history, along with the highest quarterly Mac sales ever,” said Steve Jobs, Apple’s CEO. “IPhone is off to a great start - we hope to sell our one-millionth iPhone by the end of its first full quarter of sales - and our new product pipeline is very strong.”
Apple announced their third-quarter earnings Wednesday and they jumped - a big jump rising 73 percent.
The high earnings can be contributed mostly to strong iPod and Mac Computers sales.
The iPhone which has kept the world a-buzz for for the last six months, only sold for the last day and a half of the quarter, selling 270,000 iPhones units and accessories during that time meeting most analysts predictions of 200,000.
Apple’s profit rose 92 cents a share to $818 million, up from 54 cents, $472 million one year ago. Sales reached $5.41 billion, up from $4.4 billion.
Apple says it expect to sell 1 million iPods by the end of the fourth quarter.
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