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Apple profit jumps on surging iPod sales | |
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| Time: 01:02 EST/06:02 GMT | News Source: Associated Press | Posted By: Erick Cordero | ||
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Building on continued momentum of its iPod players, Apple Computer Inc. nearly doubled its net income on record revenue and easily topped Wall Street expectations. But a soft forecast for the coming quarter drove Apples shares down more than 3 percent in extended trading Wednesday. For the second fiscal quarter, Apple said it expects revenue of about $4.3 billion and earnings per share of 38 cents, including an estimated non-cash share-based compensation expense of 4 cents a share. Analysts were expecting earnings of 48 cents a share on revenue of $4.6 billion, and questioned why the guidance was so conservative. | ||
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