Apple reports record-breaking $1 billion profit

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Apple on Wednesday posted a record-breaking $1 billion profit on record revenue of $7.1 billion for the first fiscal quarter of 2007 ended December 30, 2006. Earnings per share for the quarter were $1.14.

These results compare to revenue of $5.7 billion and net quarterly profit of $565 million, or $.65 per diluted share, in the year-ago quarter.

Apple said it 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. International sales accounted for 42 percent of the quarter’s revenue, according to the company.

Financial analysts expected Apple to report earnings $0.78 per share.

Looking ahead to the next quarter Apple CFO Peter Oppenheimer said he expects revenue of $4.8 to $4.9 billion and earnings per diluted share of $.54 to $.56.

Apple stock closed down $2.15 or 2.21 percent at $94.95. In after hours trading the stock has gone up to $95.04.

This story, "Apple reports record-breaking $1 billion profit" was originally published by PCWorld.

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