Apple Computer’s Earnings Rise 49%

Apple Computer Inc.’s earnings rose 49% in the latest quarter, mainly because of a gain from the sale of its stock in Adobe Systems Inc., the company said today.

Operating income before the Adobe gain and taxes and interest rose a narrower 2%.

Earnings in Apple’s fourth quarter rose to $161.1 million, or $1.24 a share, including an after-tax gain of $48 million from the Adobe sale. That was up from $107.9 million, or 84 cents a share, a year earlier.