Quantcast
  

Saturday, April 19, 2014         

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

Apple sees net income soar


POSTED:



Apple Inc. said yesterday that its net income for the holiday quarter jumped 78 percent as shoppers snapped up more iPads than analysts predicted.

People also bought iPhones as fast as Apple could make them. The strong results were enough to make investors forget, for the moment, the news that CEO Steve Jobs is taking another medical leave of absence.

Shares climbed in after-hours trading. Earlier, the stock slipped more than 2 percent in regular trading as Wall Street grappled with Jobs' hiatus. Jobs had surgery in 2004 that he said cured him of a rare form of pancreatic cancer.

In 2009 he had a liver transplant during a half-year medical leave; this time, Apple has not said how long it expects Jobs to be absent.

Net income for Apple's fiscal first quarter rose to $6 billion, or $6.43 per share, up from $3.4 billion, or $3.67 per share, in the same period a year earlier.

Analysts surveyed by FactSet forecast $5.41 per share for the quarter, which ended Dec. 25.

Revenue climbed 71 percent to $26.7 billion, more than the $24.3 billion analysts expected. It was $15.7 billion in the same quarter a year earlier.

Apple's newest product, the iPad tablet computer, went on sale in April and was one of the hottest gifts over the holidays. Apple sold 7.3 million of the touch-screen, keyboardless gadgets, which people use to surf the Web, check e-mail, watch movies, play games and, increasingly, get real work done.

That's about a million more than analysts were expecting.






 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(0)
You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
IN OTHER NEWS
Latest News/Updates