eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.
Apple Computer on Tuesday posted quarterly earnings in line with recently lowered market expectations.
For the quarter ended June 30, the computer maker posted a net profit of $32 million, or 9 cents per diluted share. These results compare with a net profit of $61 million, or 17 cents per diluted share, in the year ago quarter. Revenues for the quarter were $1.43 billion, down 3 percent from the year ago quarter.
The showing largely mirrored consensus Wall Street expectations, according to Thomson Financial/First Call. However, analyst had lowered their projections last month after Apple warned revenues would fall below its own earlier projections.
During the quarter, Apple shipped 808,000 Macintosh units, a decline of 2 percent from the year ago quarter.
“Even in this extended worldwide downturn, Apple is continuing to be profitable and continuing to innovate,” said Steve Jobs, Apples chief executive, in a statement issued with the earnings release. “Were working hard to attract new customers with our Switchers advertising campaign and our 31 retail stores, and were continuing to invest in a strong slate of new products, some of which well talk more about at Macworld New York tomorrow.”
Apple also will host a meeting with financial analysts in New York on Wednesday to discuss the companys future outlook.