Apple has reported a 78 percent surge in quarterly profits, boosted by strong holiday sales of its iPod digital music player.
Its profit rose to a record from $1.004 billion or $1.14 per share, from $565 million, or 65 cents per share, a year earlier and adjusted ahead than Wall Street expectation. Analysts had expected Apple to earn 78 cents per share, on average, on revenue of $6.43 billion.
US computer firm Apple also boosted by its laptops sales, the revenues rose to $7.1bn from $5.8bn, again compared to the year before.
Apple sold 1.61 million Macintosh computers and 21.1 million iPods during the quarter, representing escalation of 28% and 50% respectively from a year earlier.
Shares of the firm rose 5% in after hours trading in New York following the release of the results. Apple’s stock increased 18 percent last year, after more than doubling in 2005, and tripling in 2004.
Its shares have increased strongly by the iPod sales and the increased popularity of its computers.
Chief Financial Officer Peter Oppenheimer said:
Apple’s Mac unit growth rate was more than triple that of the overall personal computer industry, an out performance that is in line with recent quarters and iPod gained market share in the quarter for every market in which it has sales data
