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Apple: Q1 Earnings

Apple  (NASDAQ: AAPL), reported Q1 earnings.

Profits were up to $1b ($1.14 share) compared to $565 m ($0.65 share) the prior year.   Revenue was at $7.1b up from $5.7b and well ahead of analysts forecasts of $6.42b
iPod sales accounted for $3.43b of revenue

iPod shipments were up over 50% 5o 21.1m units.   Gross margins for the company beat estimates and hit 31.2%.  Some analysts were estimating that that iPod margins were up more than 400 basis  points to around 30% and Mac margins were up slightly less to around 32%.

Sales guidance for the March quarter estimate sales in the range of $4.8b with profits in the range of $0.54 a share  – both numbers below analysts initial estimates of $5.24b and $0.60 a share.

More detailed press coverage of Apple’s finances can be found at:

Yahoo Finance
Google Finance

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