Tuesday, January 18, 2011

Apple's Profit Hits a Record

Just a day after Apple (AAPL) CEO Steve Jobs announced plans to take another medical leave, the company assuaged investors' concerns with stellar fiscal first-quarter results late Tuesday.

Apple earned a record $6 billion, or $6.43 per share, in its most recent quarter ending Dec. 25, up from $3.38 billion, or $3.67 per share, in the same period a year earlier. Reveue surged 70% to $26.74 billion.

Wall Street was looking for earnings of $5.42 per share on revenue of $24.4 billion.

Apple also said that it sold a record 16.2 million iPhones in the quarter, along with 4.1 million Macintosh computers, 7.3 million iPads and 19.5 million iPods.

The company said it expects earnings of $4.90 per share for the current quarter on $22 billion in revenue. Analysts are looking for $4.47 per share on $20.9 billion in sales.

Chief Operating Officer Tim Cook will run the company while Jobs is on leave.

No comments:

Post a Comment