Apple income up; Knight Ridder profit drops

News Brief

Winner

Apple Computers watched its second-quarter income leap 41% from 34¢ a share to 47¢ a share, thanks largely to iPod sales. With the holiday season long past, sales of the portable music players continue to soar. Apple sold 8.5 million iPods in the quarter, generating $1.7 billion.

Loser

Knight Ridder, the newspaper chain that owns the Philadelphia Inquirer and the San Jose Mercury News, saw first-quarter profit drop 53% from 79¢ a share to 42¢.

KR blamed the shortfall on a weak ad market, as marketing dollars shift to TV and the Internet.

Also suffering collatoral damage: the McClatchy Co., which recently agreed to buy Knight Ridder for more than $4 billion.

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