Ipod Sales Help Apple Take A Bite Out of The Competition
Wednesday, January 17, 2007SUSIE GHARIB: Super-sweet earnings from Apple late today: quarterly earnings skyrocketed 75 percent on booming sales of its popular iPods. Apple earned $1.14 a share in its fiscal first quarter, blowing away Wall Street estimates of $0.78. Apple shipped 21 million iPods in the quarter, 50 percent more than the same period last year and much more than analyst projections. Sales of Macintosh computers jumped 28 percent. Revenues surged 23 percent to a record $7.1 billion. Looking ahead, Apple expects to earn $0.54 to $0.56 a share in its fiscal second quarter on revenues of as much as $4.9 billion.
CEO Steve Jobs said 2007 is going to be a quote very strong new product year with the launch of the Apple TV and the recently unveiled iPhone. Separately, Apple said today it's voluntarily providing Federal officials with the finding of its internal stock option backdating investigation.
