Apple posts record profits

Apple has posted big increases in sales and profits for its first quarter ending 25 December, helped by a Christmas rush for its popular iPod music players. 

 Apple achieved a net profit of £173m, compared with the £37m posted in the same quarter the previous year. Sales for the quarter were £2bn, 74% higher than the previous corresponding quarter. International sales outside the US accounted for 41% of quarterly revenue. 

 Apple shipped 1,046,000 Macintosh PCs and 4,580,000 iPods during the quarter, representing a 26% increase in CPU units and a 525% increase in iPods sold over the previous quarter.

 "We are thrilled to report the highest quarterly revenue and net income in Apple's history," said Steve Jobs, Apple chief executive officer.

 "We've sold over 10 million iPods to date and are kicking off the new year with a slate of innovative new products including the iPod shuffle, Mac mini and iLife '05 lines," he said.

 Apple chief financial officer Peter Oppenheimer predicted sales of £1.7bn during the traditionally slower second quarter.