During the first quarter, Apple's profits increased 88% compared to a year ago:
The company said net income in the quarter ended March 31 was $770 million, or 87 cents a share, compared with $410 million, or 47 cents a share, in the same period a year ago. Revenue rose to $5.26 billion from $4.36 billion a year ago. Gross margin was up 29.8% from a year ago to 35.1%.
During the quarter, Apple shipped 1.52 million Macs, and 10.55 million iPods, representing year-to-year growth of 36% and 24%, respectively. The strong iPod sales were an indication that the device introduced in 2001 remained popular, and showed little sign of losing its dominant market position.
The Mac, on the other hand, continued to benefit from Apple's decision last year to switch to the Intel platform that dominates the Windows PC market. "The Mac is clearly gaining market share, with sales growing 36% -- more than three times the industry growth rate," Apple Chief Executive Steve Jobs said in a statement.