2012-04-25 17:43
Apple’s profits surge 93% in 1st quarter
Smartphone maker Apple Inc. netted $11.6 billion or $12.30 a share during the first three months of this year, up 93 percent from $6 billion or $6.40 a year earlier, the company reported Tuesday. Output jumped 59 percent to $39.2 billion during the cited period. The figures blew away market expectations. Analysts expected the company would earn $10.07 per share on sales of $37 billion, according to FactSet Research, a financial data and software company headquartered in Norwalk, Conn. The company said it sold 35.1 million iPhones and 11.8 million iPads in the January-March period. Apple’s stock rose four percent in after-hours trading. |
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