Apple posts big quarterly lossApple Computer Inc. reported...


July 16, 1993

Apple posts big quarterly loss

Apple Computer Inc. reported a big loss for its third quarter yesterday, the result of a massive restructuring charge to cover a companywide cost-reduction program.

The computer maker said it lost $188.3 million, or $1.63 per share, in the quarter, compared with a profit of $131.7 million, or $1.07 a share, a year ago. Revenues rose to $1.86 billion from $1.74 billion.

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