/>
X

Apple's loss not all bad news

Apple's woes continue with the firm announcing yesterday it lost $32 million for its third financial quarter on the back of a sharp decline in sales. Revenues were down to $2.
zd-defaultauthor-martin-veitch.jpg
Written by Martin Veitch on

Apple's woes continue with the firm announcing yesterday it lost $32 million for its third financial quarter on the back of a sharp decline in sales. Revenues were down to $2.18 billion from $2.58 billion for the equivalent quarter last year when profit was $103 million.

The loss came despite $39 million earned from selling a stake in America Online. Apple said its well publicised recall of Powerbooks had contributed to the red ink.

However, many observers said they were surprised at the small size of the loss. Some Apple watchers had predicted losses in the hundreds of millions of dollars range. Those impressed see the less than expected loss as evidence of new CEO Gilbert Amelio's housekeeping expertise.

Apple expects to build sales of multimedia, Internet and servers instead of low-margin desktops.

Related

Apple's 'most complicated product' is heading for launch, says analyst
The Apple Computers Store in Sydney Australia

Apple's 'most complicated product' is heading for launch, says analyst

AR + VR
Apple's iOS 16 will give you an alternative to irritating CAPTCHA tests
Scrolling through iPhone

Apple's iOS 16 will give you an alternative to irritating CAPTCHA tests

Security
CISA: Switch to Microsoft Exchange Online 'Modern Auth' before October
gettyimages-666009646.jpg

CISA: Switch to Microsoft Exchange Online 'Modern Auth' before October

Security