After a 90-minute speech where he unveiled several hardware add-ons for the Mac and new features of software packages such as Office 98 for the Mac and QuickTime 3.0, Jobs thanked everyone for coming.
Then he turned and quipped coyly: "Oops, I forgot something."
The words "Think Profit" then appeared on the screen behind him, and Jobs announced that Apple would post a fourth-quarter profit of about $45 million on revenue of $1.58 billion during the first quarter. "Every group at Apple has been burning the midnight oil," Jobs said.
Analysts had expected the company to post a loss of more than a 5 cents a share, and many didn't expect the company to return to profitability until at least the third quarter. The company has posted a string of losses in the face of declining market share, but two factors teamed up to boost first-quarter sales