Tag: aapl

Apple posts $290 million profit

Apple on Wednesday posted a net profit of US$290 million, or 34 cents a share, for its fiscal 2005 second quarter ended March 26, 2005. These results compare to a net profit of $46 million, or 6 cents per share, in the year-ago quarter. Revenue for the quarter was $3.24 billion, up 70 percent from the year-ago quarter. Analysts surveyed by Thomson First Call estimate that Apple will earn 24 cents a share on $3.25 billion in revenue.

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Apple insiders sell $73 million in stock

The San Jose Mercury News reports that seven insiders at Apple sold more than US$73 million in stock last month. So far this year, 10 executives have sold $229 million in company shares. Senior Vice President of Hardware Engineering Jonathan Rubinstein had the largest gain. He exercised options to buy 500,000 Apple shares for $17.31 each October 1. The same day he sold those shares for prices ranging from $38.61 to $38.98 each, for a gain of $10.7 million.

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