‘US computer manufacturer Apple announced on Wednesday a fourfold increase in net profits for its fiscal 2005 first quarter ended December 25, to US$295m, boosted by strong sales of its iPod digital music player.

The result was a 368 percent increase over its year earlier net earnings, for the same period ending December 2003, with a figure of 63 million dollars, the group said in a statement.

Results defied analysts’ average estimate of 49 cents a share, to bring in earnings of 70 cents a diluted share, compared with 17 cents in the year-ago quarter.’

Read more at iPod success boosts Apple’s profit by fourfold to US$295

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