Apple’s earning also improves upon market estimates

Apple’s earning also improves upon market estimates

As expected by the markets, Apple has shown a sparkling performance in the last quarter itself. The company in fact managed to better the market expectations by a minor margin. However, their sales figures were not that impressive, as they could not match the forecast by the experts in the market. The Macintosh maker reported fiscal fourth-quarter earnings of $430 million, or 50 cents per share, on revenue of $3.68 billion.

This is an improvement over $106 million, or 13 cents per share, on revenue of $2.35 billion for the same period a year earlier. However, most of this improvement is due to the benefit from tax-related issues that amounted to 12 cents per share. Without this advantage, the figures would be been around earnings of 38 cents per share.

The company as a result had less impressive sales figures, which are less than some analysts, were projecting. Apple mentioned in their statement during the company’s press event scheduled for Wednesday in San Jose, Calif. that they sold 1.24 million Macs and 6.45 million iPods during the past quarter, which ended Sept. 24. In the previous quarter, the company sold around 1.18 million Macs and 6.16 million iPods.

Apple CEO Steve Jobs said in a statement: “We’re thrilled to have concluded the best year in Apple’s history, with 68 percent year-over-year revenue growth and 384 percent net profit growth. This is the direct result of our focus on innovation and the immense talent and creativity at Apple. We could not be more excited about the new products we’re working on for 2006.”

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