Apple Profit, Revenue Surge on iPod Strength

With any huge profit or revenue, analysts' expectations are always destroyed. This time was no different with analyst Thomson First Call; the projection was for revenue of $6.4 billion and earnings per share of 78 cents. Apple's first fiscal quarter had revenue of $7.1 billion and shares of $1.14 which are 25% and 75% increases over 2005, respectively. A 50% increase from 2005 allowed a profit of $1 billion for the innovative company. iPod sales increased by 50%, in comparison to the same period last year, as well. On the other hand, Apple decided to project its second quarter expectations below analysts': revenue of $4.8 billion to $4.9 billion and earnings per share of 54 cents to 56 cents.

News source: News.com

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