Apple profits, revenue down, but ahead of estimates

Apple profits, revenue down, but ahead of estimates

Apple Computer reported a lower second-quarter profit for the second quarter of fiscal 2003 than in the previous year, but the company managed to take in almost the same amount of revenue as a year ago despite a drop in units sold, Apple said in a release on Wednesday.

The Californian company reported a net profit of $US14 million, or $0.04 per share. This compares to a net profit of $40 million and earnings per share of $0.11 in the second quarter of the company's fiscal 2002 year. Second-quarter revenue was $1.48 billion, down slightly from last year's second-quarter revenue of $1.5 billion.

Analysts surveyed by Thomson First Call had predicted earnings per share of $0.02 and revenue of $1.46 billion.

The company shipped 711,000 Macintosh units in the second quarter, down from 813,000 units in the second quarter of 2002.

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