Apple’s profit rises despite drop in iPod shipments

Apple on Monday posted an increase in net profit and sales for the fourth quarter of 2009 despite a year-over-year decline in iPod shipments.

The company reported a quarterly profit of US$1.67 billion, or $1.82 per diluted share, for the quarter that ended Sept. 26, an improvement from the net profit of $1.14 billion for the fourth quarter of 2008. The earnings per share beat expectations of $1.42 based on estimates polled by analysts at Thomson Reuters.

Apple also posted revenue of $9.87 billion for the quarter, compared to revenue of $7.9 billion reported last year. Analysts expected $9.2 billion in revenue for the quarter.

Apple sold 10.2 million iPods during the quarter, an 8 percent unit decline from a year ago. However, the company recorded a year-over-year increase in Mac computer and iPhone shipments during the quarter. Apple shipped 3.05 million Macintosh computers during the quarter, a 17 percent unit year-over-year increase. The company sold 7.4 million iPhones for 7 percent year-over-year unit growth.

“We are thrilled to have sold more Macs and iPhones than in any previous quarter,” said Apple CEO Steve Jobs in a statement. “We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.”

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Jim Love, Chief Content Officer, IT World Canada

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