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April 14, 2004

Apple rolls on in Q2

Apple blew past analysts' expectations for its second quarter yesterday and raised the bar for its third quarter performance.

By CBR Staff Writer

The Mac vendor turned in revenue of $1.9bn for the quarter ending March 27, up 29% on the year. Operating income was $52m, compared to a loss of $4m last year, while net income was $46m, compared to last year’s $14m profit.

This resulted in earnings per share of $0.12, including a restructuring charge of $0.02 per share. Analysts had been expecting earnings of $0.10 per share.

The company said it saw growth across most of its businesses, and highlighted sales of its iPod music players, with shipments up over 900% to 807,000.

Apple expects the surge to continue into its third quarter, when it expects revenue of $1.9bn, with earnings per share of $0.12 to $0.13, including $0.02 per share for restructuring costs. Wall Street’s current expectation is for revenue of $1.8bn with earnings per share of $0.09.

For the year to date, sales were up 32.8% to $3.9bn, with net income up from $6m to $109m.

This article is based on material originally published by ComputerWire

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