Apple posts record quarterly earnings of $ 13.06 billion, an increase of 118%
Apple posted record net income of $ 13.06 billion for the quarter ended December 31, 2011; up to 118% more than in the same period of 2010.
The company also sold 37 million iPhones, more than double what it sold in the last quarter of 2010. "The momentum from Apple is incredibly strong and we have some amazing new products in the pipeline," said CEO Tim Cook.
The firm expects to launch the iPad 3 in March of this year. "We are very pleased to have generated more than $ 17.5 billion in cash flows from operations in the last quarter," said Peter Oppenheimer, Apple's CFO. "Looking ahead to the fiscal second quarter of 2012, we expect revenue of about $ 32.5 billion and diluted earnings per share of $ 8.50."
Apple shares rose 6.8% in early trading on the Nasdaq Tech Stock Exchange, after the Wall Street open, hitting a new high of $ 449 and giving the company a value of about 420,000. Dollars.
Apple also enjoyed strong sales of both iPads and its range of Mac computers, increasing by 111% and 26%, respectively, compared to the same period in 2010.
In contrast, sales of the iPod, Apple's portable music player, fell 21%.
Source: BBC Business