By Aled Herbert, 18 July 2001 09:15
NEWS Computer maker Apple has reported a rise in profits for the third quarter from the previous period, but has warned that the flagging consumer PC market shows few signs of recovery. The company reported profits of $61m for Q3, up from $40m in Q2, but down 70 per cent from $200m in the same period last year. Apple said sales of its re-vamped portable computers, the iBook and PowerBook, and a recovery in the education sector, helped boost sales during the quarter. Sales for the Q2 rose to $1.475bn - up from $1.43 in Q2 2001 but down from $1.8bn in the same period last year. However, the company was cautious about performance in the current quarter, which analysts took as a warning, causing Apple shares to dip slightly in after hours trading. Apple CFO Fred Anderson told Reuters that the company was enjoying strong sales in the education sector, stealing back market share from nearest rival Dell. However, he predicted that the grim state of the PC consumer market should little sign of easing up. Apple CEO Steve Jobs is expected to make a number of product announcements in his keynote speech at the New York Macworld Expo later today.
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