Apple Inc.'s fiscal second-quarter profit jumped 94% as the consumer electronics giant reported strong sales of its iPhone and iPad products.
Shares jumped 7.4% to $601.32 in after-hours trading as results topped analysts' expectations.
The latest results come after Apple reported a blockbuster first-quarter, hitting new sales and profit records, thanks to the surging popularity of its smartphone and tablet computer.
For the quarter ended March 31, Apple reported a profit of $11.62 billion, or $12.30 a share, up from $5.98 billion, or $6.40 a share, a year earlier. Revenue increased 59% to $39.19 billion, with 64% of the top line coming from international sales.
In January, the company projected earnings of about $8.50 a share on revenue of about $32.5 billion, above Wall Street's estimates at the time. Analysts had most recently forecast a per-share profit of $10.04 and revenue of $36.81 billion. Gross margin widened to 47.4% from 41.4%.
The company's iPhone continued to be a key driver of growth in the latest period, as Apple sold 35.1 million iPhone units last quarter, up 88% from the prior year's total.
Apple sold 11.8 million iPad units in the most recent period, more than double from a year earlier. Apple began selling the third-generation iPad last month, the first major product launch for Apple since the latest iPhone went on sale in October. Apple had said it sold a record 3 million iPads in the product's first weekend of sales.
wow
I had a stop on AAPL at $600. When I sold I just bought Vanguard's Tech fund which is ~25% AAPL, but I obviously wish I was still holding AAPL with that $.
On a side note, my iphone broke so I was in the Apple store on Sat. I had an 830am appointment at the store in the middle of a mall that opened at 10. The place was PACKED. There were people taking classes, old people working on projects and a bunch of people buying the new ipad. I didn't even think I'd be able to get to the store (even with my appointment) and they were still selling to people like gangbusters. Now I know that AAPL is taking over the world.
I think I'm going to get the iPhone 5 in October.
Congrats Apple.
Now stop being bitter and stop suing all rivals.
Probably rumors, but is Apple trying to make a TV?
bump
AAPL is going to $5,000/share in a heartbeat.
honestly should I buy apple again? I sold them at $250 a couple of years ago (FUCK ME).
Every year the Chinese have 'Tomb-Sweeping Festival' where they visit the graves of their ancestors, sweep them and burn offerings (eg fake money, paper houses, etc...) believing that their ancestors will receive whatever they burn in heaven. This year they were burning paper Ipads and Iphones. No joke.
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