Apple Computer reported Tuesday revenue for the March quarter of US$4.36 billion and profits of $410 million, or $.47 per diluted share. That compares to revenue of $3.24 billion with a profit of $290 million ($.34 per diluted share) during the year-ago period.

Apple beat (slightly) its own estimates for revenue of $4.3 billion, but missed Wall Street consensus estimates of $4.5 billion. Profits, however, beat both Appleis estimates of $.42 per share and consensus estimates of $.43 per share.

"Weive generated over $10 billion in revenue and almost $1 billion in earnings in the first half of fiscal 2006," Apple CEO Steve Jobs said in a statement. "Our transition to Intel processors is going very well, and our music business just experienced another quarter of outstanding growth."

The company sold some 1.112 million Macs and 8.526 million iPods during the quarter, representing a 4% growth in Macs year over year and a 61% growth in iPod sales. Wall Street had been expecting some 1.2 million Macs sold, and estimates ranged from 8 to 10 million for iPod unit estimates, meaning that Apple fell towards the lower end of those expectations.

Apple is estimating revenue of $4.2 to $4.4 billion for the June quarter, with earnings of $.39 to $43 per share. Apple CFO Peter Oppenheimer said that those earnings estimates included, "an estimated $.04 per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about $.43 to $.47."

Apple is about to start its conference call with financial analysts, and TMO will provide coverage of additional news stemming from that call.

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  

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