“The stock rose as much as 5.2 percent in German trading after Apple said yesterday that revenue in the three months that end in September will be about $18 billion,” Bloomberg reports. “Analysts had predicted sales of $17 billion.”
“The company also reported third- quarter revenue and profit that exceeded analysts’ predictions, fueling a gain in Apple stock in extended trading,” Bloomberg reports. “Net income leaped 78 percent and revenue reached a record last quarter, the first to include sales of the iPad tablet computer and the newest iPhone. Chief Executive Officer Steve Jobs, 55, vowed to release more ‘amazing new products’ this year, part of an effort to repel a threat from Google, a competitor in mobile software and advertising, and such computer makers as Hewlett-Packard Co., which plans its own tablet.”
MacDailyNews Take: For perspective, the current facts: Google = inferior fake iOS and HP = vapor and printer cartridges.
Bloomberg continues, “Rivals aside, Apple expects gains to continue, forecasting per-share earnings of about $3.44 this quarter. The company’s estimates are typically conservative, and analysts on average are forecasting profit of $3.83 a share. ‘We have amazing new products still to come this year,’ Jobs said in the statement.”
“This year, Apple may ship 12.9 million iPads, ISuppli Inc. said this week. Previously the El Segundo, California-based research firm had expected 7.1 million,” Bloomberg reports. “Apple is taking steps to overcome supply shortages for the iPad and the new iPhone 4, Chief Operating Officer Tim Cook said yesterday on a conference call with analysts. ‘We’re currently selling those products as fast as we can make them,’ Cook said. ‘In the scheme of things, it’s a good problem to have.'”
Full article here.
MacDailyNews Note: In pre-market trading, shares of Apple Inc. (AAPL) are currently up $12.28, or 4.88%, to $264.17.