Apple profits surge 78 per cent
By Our Corporate Bureau | 18 Jan 2007
Strong Christmas sales of iPod digital music players have boosted Apple's profits by 78 per cent for the quarter to 30 December.
Apple said that its net profit for fiscal first quarter rose to a record $1 billion (Rs 4,450 crore) from $565 million a year earlier, on revenues of $7.1 billion, up from $5.8 billion in the preceding year.
According to analysts, Apple's net profit amounting to $1.14 per share, had topped market expectations of 77 cents.
The company sold 1.6 million computers, a growth of 28 per cent over the previous year, and over 21 million iPods during the quarter registering a 50 per cent sales growth in the same period last year.