"Apple Computer Inc said Wednesday its second-quarter profit rose 41%, beating Wall Street estimates, as sales of its iPod players continued to soar and Macintosh computer shipments increased by 4 percent. Cupertino-based Apple said it earned $410 million, or 47 cents per share, in the three months that ended April 1. In the same period a year ago, the company earned $290 million, or 34 cents a share," reports The Mercury News.
"Revenue for the quarter was $4.36 billion, up 34% from $3.24 billion in the year-ago quarter, but fell below the projections of analysts surveyed by Thomson Financial, who, on average, expected revenue of $4.54 billion."
Intel didn't do as well in a slowing PC market, with increased competiton from AMD. "First-quarter profits dropped 38% -- the biggest decline in more than four years," reports the Silicon Valley/San Jose Business Journal, while "sales fell 5.2% to $8.94 billion."
Meanwhile IBM's sales fell by 10% to only $20.6 billion, following the sale of its PC division to Lenovo. However, profits from continuing operations climbed by 22% to $1.7 billion. Reuters has the details.
