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High Tech News

Apple Macs Fuel Record Quarterly Profit

Wednesday, July 25, 2007 11:22:18 PM
By MAY WONG

Apple customers Jason Payne, right, and Loan Thach, left, try out the new Apple iPhone at an Apple store in Palo Alto, Calif., Tuesday, July 24, 2007. AT&T Inc. wiped some of the glow off Apple Inc.'s iPhone on Tuesday, releasing numbers that showed fewer people than expected signed up for service in the first two days of the multimedia cell phone's release.(AP Photo/Paul Sakuma)SAN JOSE, Calif. (AP) - All eyes have recently been on the iPhone, Apple Inc.'s newest family member, but the company's fiscal third-quarter results showed the elder Macintosh computer was still flexing its muscles, helping to drive record profits that blew past Wall Street's expectations.

Apple shares surged more than 9 percent in extended trading Wednesday after the computer and gadget maker reported that earnings grew 73 percent.

The company sold a record 1.76 million Macintosh computers during the quarter, up 33 percent from the year-ago period, far outpacing the industry's growth rate. Mac sales and services accounted for more than 60 percent of the quarter's revenue, the company said.


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