US computer manufacturer Apple last night announced a fourfold increase in net profits for its fiscal 2005 first quarter ended December 25, to $295m, boosted by strong sales of its iPod digital music player.
The result was a 368% increase over its year earlier net earnings, for the same period ending December 2003, with a figure of $63m, the group said in a statement.
Results defied analysts' average estimate of 49 cents a share, to bring in earnings of 70 cents a diluted share, compared with 17 cents the same time the previous year.
Apple also beat most analysts' expectations with its $3.49 billion in revenue - a 74% increase compared with the September-December 2003 period.
'We are thrilled to report the highest quarterly revenue and net income in Apple's history,' said Steve Jobs, Apple's CEO, noting sales to date of more than 10 million iPods.
Apple expects some $2.9 billion in sales in the current quarter and earnings of some 40 cents a share. Analysts suggest the figure will be closer to 33 cents a share, and pegged turnover at $2.74m.
