Apple Posts $55 Million Quarterly Profit

Apple significantly surpassed analysts expectations today by posting a $55 million profit on revenues of $1.4 billion for its second fiscal quarter of 1998. This marks Apple’s second consecutive profitable quarter, having earned $45 million in the first quarter of this fiscal year. In contrast, Apple lost $708 million dollars in this same quarter last year, due in no small part to the acquisitition of NeXT Software. According to Apple, just over half of the 650,000 Macs sold were Power Macintosh G3 systems (which continue to show strong demand), and international sales accounted for 50 percent of Apple’s total revenues in the quarter.