Apple Shines as Earnings Quadruple

Apple has added further reason to be jubilant during this year's Macworld exposition, because it's not just the gala's festive atmosphere that has caused Apple's stock shares to jump: First quarter financial results have revealed a net profit of $295 million.

Apple credits the sale of 1,046,000 Macintosh units and 4,580,000 iPods, as well as thriving international sales for its vastly improved margins that are more than quadruple last year's same-quarter results.

"We are thrilled to report the highest quarterly revenue and net income in Apple's history," said Apple CEO Steve Jobs. "We've sold over 10 million iPods to date and are kicking off the new year with a slate of innovative new products including iPod shuffle, Mac mini and iLife '05."

Apple's CFO Peter Oppenheimer chimed in, "We're pleased to report 74 percent revenue growth, 26 percent Mac unit growth and 525 percent iPod unit growth. Looking ahead to the second quarter of fiscal 2005, we expect revenue of about $2.9 billion and earnings per diluted share of about $.40."

After its financial statements were disclosed, Apple's price per share leaped nearly 12 percent to $73.25 USD in after-hours trading with a price earnings ratio of 103.17. Apple's Q1 2005 revenues are the highest the company has obtained in 9 years.