Apple Computer posted a quarterly profit that exceeded the forecasts boasted by records sales of iPod and its Macintosh computers.

Cupertino, CA-based company said net income for its fiscal first quarter ended Dec. 25 nearly quintupled to $295 million, or 70 cents a share, from $63 million, or 17 cents a share, a year ago. Revenue rose 74 percent to $3.49 billion from $2.01 billion. Analysts had forecast revenue of $3.14 billion.

Shares of Apple, which Tuesday unveiled a smaller, cheaper iPod that starts at $99 and a slim Mac without a display starting at $499, more than tripled last year.

Apple Chief Financial Officer Peter Oppenheimer said the company sold 337,000 of its all-in-one iMac G5 computers in the quarter.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved