Apple posts better-than-expected quarterly results
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Apple Inc. on Tuesday reported sales and profit that both easily beat analysts' expectations, citing strong demands for its products.
For its fiscal 2011 first quarter ended on Dec. 25, 2010, Apple posted revenue of 26.74 billion U.S. dollars, an increase of 71 percent from the same period a year earlier.
Net income reached 6 billion dollars or 6.43 dollars per share, compared with 3.38 billion dollars or 3.67 dollars per share in the year-ago quarter.
Wall Street analysts had expected profit of 5.40 dollars a share on revenue of 24.43 billion dollars, according to Thomson Reuters.
Apple said that sales of its iPhone and Macintosh computer hit new records in the most recent three months, which included the holiday shopping season.
The company sold 16.24 million units of iPhone in the quarter, representing a jump of 86 percent year-on-year. Sales of Macs increased 23 percent to 4.13 million units.
During the quarter, Apple also sold 7.33 million iPad tablet computers, more than analysts had estimated.
Sales of iPod media players dropped to 19.45 million units, a decline of 7 percent from the year-ago quarter, Apple said.
Reactions from investors indicated that the results helped to partially offset concerns about the news that Apple's chief executive officer (CEO) Steve Jobs will take another medical leave of absence.
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