Apple posts Q2 profit

Apple has turned itself around and posted a Q2 profit of US$40 million on revenue of $1.38 billion, which the company says is due to falling component prices and sales of 115,000 of its Powerbooks.

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By  Michelle Sturman Published  April 19, 2001

Apple has turned itself into a profit-making machine once again, beating analyst expectations by a significant margin for its second fiscal quarter.

Apple earned US$40 million on its Q2 revenues of $1.43 billion.
Revenue expected from analysts was $1.38 billion for the quarter, which ended March 31.

The quarterly earnings are in sharp contrast to the $247 million operating loss in Apple's fiscal first quarter.

A number of circumstances have contributed to the earnings results, says the company, including falling component prices and reaching its target of four-week inventory for the channel early. Powerbook sales also helped Apple to exceed its revenue target, with sales of 115,000 for both new and old models.

"We had a lot to accomplish in the March quarter, and we're very pleased that our results exceeded expectations in a very challenging environment," said Fred Anderson, chief financial officer, Apple.

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