Apple shatters earnings records: $1B in Q1

Summary:Apple yesterday announced their Q1 2007 financial results in a conference call with analysts and made some history at the same time.

APPL Stock ChartApple yesterday announced their Q1 2007 financial results in a conference call with analysts and made some history at the same time.

The company announced that they had earned a record US$1 billion profit on revenues of US$7.12 billion with an earnings per share of US$1.14 for the first fiscal quarter of 2007. This compare to Apple's Q1 2006 profit of US$565 million on revenues of US$5.75 billion with an earnings per share of 65 cents.

Profits rose 78 percent based on iPod sales as compared with one year ago and Apple representatives stated that the company had shipped 1,606,000 Macs and 21,066,000 iPods during the quarter, representing a 28 percent growth in Macs and 50 percent growth in iPods sales compared to Q1 of 2006.

Some quick tidbits from the call: 

  • Apple sold 21,066,000 iPods in the quarter, up 15 percent from Q1 2006.
  • iPod holds a 72 percent market share of music players in the U.S.
  • Over 2 billion songs sold have been sold through the iTunes Store, which currently accounts for over 80 percent of songs sold.
  • Next quarter's results will divulge anticipated iPhone sales.

All of the details, including a replay of the conference call, are available on Apple's investor Web site. A detailed AAPL stock chart can be found on Google Finance.

Topics: Apple

About

Jason D. O'Grady developed an affinity for Apple computers after using the original Lisa, and this affinity turned into a bona-fide obsession when he got the original 128 KB Macintosh in 1984. He started writing one of the first Web sites about Apple (O'Grady's PowerPage) in 1995 and is considered to be one of the fathers of blogging.... Full Bio

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