Apple's Record Q1 Profits: $1 Billion Jan 18, 2007

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Apple reported record revenue of U.S. $7.1 billion and record net quarterly profits of $1.0 billion, or $1.14 per diluted share, for its fiscal 2007 first quarter ended December 30, 2006. These results compare to revenue of $5.7 billion and net quarterly profit of $565 million, or $0.65 per diluted share, in the year-ago quarter.

Apple shipped 1,606,000 Macintosh computers and 21,066,000 iPods during the quarter, representing 28 percent growth in Macs and 50 percent growth in iPods over the year-ago quarter.

Apple CEO Steve Jobs said the company is "incredibly pleased" with the results and believes the company has kicked off a strong new product year, with the launch of Apple TV and the much-hyped iPhone.

“We generated over $1.75 billion in cash during the quarter to end with $11.9 chief financial officer. “Looking ahead to the second fiscal quarter of 2007, we expect revenue of $4.8 to $4.9 billion and earnings per diluted share of $0.54 to $0.56.”
 

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