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Wednesday 18th July 2001
Apple makes $61 million profit 1:01PM, Wednesday 18th July 2001
Apple has reported a profit of $61 million for its third fiscal quarter, ended 30 June. The results represent a 70% decline in profits compared with the equivalent quarter of last year, and a 19% decline in revenue.

Unit sales overall were up by 10% over the previous quarter, with 827,000 Macs sold worldwide, although they were 19% down compared to the equivalent quarter of 2000.

However, the picture for Mac sales in Europe was much bleaker, with unit sales in the EMEA (Europe, Middle East and Africa) region down 24% compared to the previous quarter and 32% compared to last year. This poor European quarter contributed to sales outside the US falling to 44% of the total, from 50% last

 
 
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year.

Of Apple's products, the big winner was the iBook. Sales of the consumer and education portable soared by 245% compared to the previous quarter, with an increase of 81% compared to 2000. This success was highlighted by Steve Jobs during the company's announcement of its results, with the Apple CEO describing the new machine as '"wildly popular".

However, Apple's other products performed less well. Although the iMac saw an increase in unit sales of 2% compared to the previous quarter, sales were 32% down from last year, a situation that was reportedly exacerbated by poor availability towards the end of the quarter. PowerBook sales declined by 21% compared to the previous quarter, an unsurprising result given the phenomenal sales immediately after its introduction. But the biggest losers were the Power Mac range, which, including sales of the Cube, fell by 36% compared to last year.

Wall Street was impressed with the results, with Apple shares boosted by 5%, up to $25.10, by the end of trading on the day the figures were announced.

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