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:
