IMac boosts Apple's earnings

Apple's flat-panel iMac has kept demand strong during the continued weak period in the personal computer market, holding its...

Apple's flat-panel iMac has kept demand strong during the continued weak period in the personal computer market, holding its second-quarter financial results steady from the same period last year.

Revenue for the quarter was $1.5bn (£1bn), up 4% from the same quarter last year. Analysts had expected Apple to report revenue of $1.46bn.

Net profit from sales at $40m (£27.6m) was down from $43m (£29.7m) in the same quarter a year earlier. At least one analyst had expected Apple to fall short of second-quarter forecasts because of supply constraints and rapid channel stocking late in the quarter.

Apple had begun shipping its latest flat-panel iMac during the quarter, and, so far, has delivered 220,000 units since its launch. However, Apple raised the price of the iMac by $100 because of an increase in the costs of memory and LCD flat-panel displays.

The company also claimed that shipments of its iBook - now available with a 14-inch display - grew by 156% during the quarter.

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