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Apple Announces Best Quarter Ever

Apple released record Q4 results as profits climbed to $1.58 billion. CEO Steve Jobs said he was “thrilled” to report that the fourth quarter was the company’s “best quarter ever,” with the highest revenue and earnings in Apple’s history.

Profits for the quarter were $1.76 per share, up by more than 50% from the same quarter last year. The company posted revenue of $9.6 billion, with sales outside the United States accounting for 45%.

Sales of Macintosh computers were up 44% from the last quarter of 2006, and Apple reported an increase of 17% on iPod sales. The company also reported sales of 2.32 million iPhones during the quarter. Jobs said that the company has sold more than 4 million iPhones since the device’s launch.

But the company predicted less than dazzling Q1 results, which led to a drop of as much as 10% for the company’s stock. Apple’s CFO Peter Oppenheimer announced conservative expectations for Q1, saying the company anticipates per-share earnings of 94 cents on revenues of $6.8 billion in the first three months of 2008.

Though these conservative estimates do not spell impending doom for the hip tech company, Carl Gressum, senior analyst at Ovum, warns, “A recession could also spell problems…So even though Apple is doing very well, it has been riding the wave of economic boom.  If this comes to a halt, so could Apple.”

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January 24, 2008 Posted by | iphone, iPhone Apps, iphone compitition, iphone news, iphone sales, Mobile news | , , | Leave a comment

Motorola Reports Continued Q1 Losses

Motorola announced continued losses for its handset unit today, sending its shares down by as much as 16% in morning trading.  The U.S. handset manufacturer said it expects to post an operating loss for the current quarter due to a slower than expected recovery in its handset business.  The announcement overshadowed the company’s Q4 results, which, while not positive, were in line with expectations.

For Q4, Motorola posted an operating loss of $388 million, compared with a profit of $341 million for the same quarter a year earlier. Sales of mobile phones fell 38% to $4.8 billion, with 40.9 million units sold.

Motorola’s new CEO Greg Brown admitted the company’s previous strategy to return the handset business to profitability was not working. “We are focused on aggressively rationalizing the company’s cost structure and working to get Mobile Devices back on track,” Brown said, via a statement. “The recovery in Mobile Devices will take longer than expected and there is a lot more work to be done.”

For the current quarter, the company forecast continuing operating losses per share of 5 to 7 cents, before any reorganization charges, while analysts had expected a profit of as much as 10 cents per share for the first quarter of 2008.

In more bad news for Motorola, the UK’s Financial Services Authority (FSA) has launched an investigation of insider trading regarding the company’s purchase of TTP Communications in 2006. The FSA accused Christopher McQuoid and James Melbourne, former general counsel for TTP Communications, of having knowledge of Motorola’s plans to purchase the company, when the two purchased more than 153,000 shares in the company. Both pleaded not guilty.

January 24, 2008 Posted by | Cellphone, cellphone news, mobi fun, Mobi news, Mobile events, mobile facts | , , , , | Leave a comment