Apple Inc. (NASDAQ:AAPL) reported higher profit for the fourth quarter as revenue showed growth. Net income for Apple Inc. rose to $6.62 billion ($7.05 per share) vs. $4.31 billion ($4.64 per share) in the same quarter a year earlier. This marks a rise of 53.7% from the year earlier quarter. Revenue rose 39% to $28.27 billion from the year earlier quarter. AAPL fell short of the mean analyst estimate of $7.30 per share. It fell short of the average revenue estimate of $29.45 billion.
“We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,” said Tim Cook, Apple’s CEO. “Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.”
Competitors to Watch: Hewlett-Packard Company (NYSE:HPQ), Dell Inc. (NASDAQ:DELL), Google Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), Lenovo Group Limited (LNVGY), Adobe Systems Incorporated (NASDAQ:ADBE), Intl. Business Machines Corp. (NYSE:IBM), Intel Corporation (NASDAQ:INTC), Super Micro Computer, Inc. (NASDAQ:SMCI), and Nokia Corporation (NYSE:NOK).
Yahoo! Inc. (NASDAQ:YHOO) posted a decrease in profit as revenue declined. Net income for the internet information provider fell to $293.3 million (23 cents per share) vs. $396.1 million (29 cents per share) a year earlier. This is a decline of 26% from the year earlier quarter. Revenue fell 24% to $1.22 billion from the year earlier quarter. YHOO reported adjusted net income of 21 cents per share. By that measure, the company beat the mean estimate of 17 cents per share. It beat the average revenue estimate of $1.07 billion.
“We’re pleased that revenue, operating income and EPS were all above consensus this quarter,” said Tim Morse, CFO and Interim CEO, Yahoo!. “My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content – all with an eye toward growing monetization.”
Competitors to Watch: Google Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), AOL, Inc. (NYSE:AOL), IAC/InterActiveCorp (NASDAQ:IACI), Rediff.com India Ltd. (NASDAQ:REDF), Sohu.com Inc. (NASDAQ:SOHU), Baidu.com, Inc. (NASDAQ:BIDU), InfoSpace, Inc. (NASDAQ:INSP), Intl. Business Machines Corp. (NYSE:IBM), and Demand Media Inc (NYSE:DMD).