Apple reports record revenue for Q1

CUPERTINO, Calif. -- Apple announced that for its first quarter ended Dec. 25, 2010, it posted record revenue of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. These results compare to revenue of $15.68 billion and net quarterly profit of $3.38 billion, or $3.67 per diluted share, in the year-ago quarter.

“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” said Steve Jobs, Apple’s CEO. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”

According to Apple's CFO Peter Oppenheimer, the company expects revenue of about $22 billion for the second fiscal quarter of 2011 anddiluted earnings per share of about $4.90.