Apple posts US$38 million first-quarter profit

Apple has reported a first-quarter profit of US$38 million, or 11 cents per share, in line with analyst expectations. Revenues for the quarter came in at US$1.38 billion, up 37 percent from the year-ago quarter. The quarter’s results included a $24 million restructuring charge, which was offset largely by a $23 million realized gain from equity investments. During the quarter, Apple shipped 746,000 Macintosh systems, as well as 125,000 iPods, as gross margins came in at 30.7 percent.

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