Apple's 21 million reasons to love the holidays

Apple's past holiday season was definitely filled with joy.

The company reported first-quarter profit of $1 billion as iPod sales increased by 50 percent compared with the same period a year ago, Apple said in a press release Wednesday.

Revenue was $7.1 billion, up about 25 percent from the previous year's first quarter of $5.7 billion. Earnings per share were $1.14, up sharply from the previous year's earnings per share of 65 cents, for Apple's first fiscal quarter ending on December 30.

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