Apple Inc. reported a first-quarter profit that rose 58% from a year ago thanks to strong sales of Mac computers and iPods during the busy holiday shopping season.
Shares of company fell more than 11% after in after-hours trading as the company gave a second-quarter outlook that was short of Wall Street analysts' estimates.
The Cupertino, Calif.-based company said it sold 22 million iPods and 2.3 million Macintosh PCs during the quarter. Also, about 2.3 million iPhones were sold during the quarter.
In November it released its new Mac OS X Leopard operating system which sold 2 million copies through its first weekend.
Apple said that for its first fiscal quarter, it earned $1.58 billion, or $1.76 a share, on revenue of $9.6 billion. During the same period a year ago, Apple earned $1 billion, or $1.14 a share, on $7.12 billion in sales.
Analysts had predicted Apple to earn $1.62 a share on $9.47 billion in sales for the quarter ended Dec. 31.
Chief Financial Officer Peter Oppenheimer said Apple expects to earn 94 cents a share on $6.8 billion in sales for its second quarter, shy of Wall Street estimates of $1.09 a share on revenue of $6.99 billion.