Apple 3rd quarter profit jumps 31 percent

Apple 3rd quarter profit jumps 31 percent

By Associated Press

Apple Inc. says its most recent quarterly profit jumped 31 percent and beat Wall Street's forecasts. It was helped by demand for Macintosh computers and iPod media players.

Apple earned $1.07 billion, or $1.19 per share, 11 cents ahead of Wall Street's expectations, according to a Thomson Financial survey of analysts.

Revenue jumped 38 percent to $7.46 billion, also beating analysts' average forecast.

Apple says it shipped 2.5 million Macs in the quarter, up 41 percent from a year ago. IPod shipments jumped 12 percent.

Story Published: Jul 21, 2008 at 2:00 PM PDT

Story Updated: Jul 21, 2008 at 2:00 PM PDT

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