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Apple's profits more than quadruple

Time: 19:01 EST/00:01 GMT | News Source: Reuters | Posted By: Erick Cordero

Apple Computer Inc. Wednesday posted a quarterly profit that more than quadrupled on skyrocketing sales of its iPod digital music players and strong demand for its PowerBook notebook PCs.

Apple shares jumped 13 percent in after-hours trading. Apple, based in Cupertino, California, said net income for its fiscal first quarter ended Dec. 25 rose to $295 million, or 70 cents a share, from $63 million, or 17 cents a share, a year ago. Analysts had forecast earnings within a range of 41 cents to 55 cents a share, according to Reuters Estimates.

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