Apple sets record with quarterly sales and profits in excess of $13B
Posted by | Posted on 25-01-2012
Apple reported record quarterly sales and profit, as holiday purchases of the new iPhone helped the company steer clear of the consumer spending slump that has hurt rival technology companies.
Fiscal first-quarter profit more than doubled to $13.1 billion, or $13.87 a share, compared with $6 billion, or $6.43 a share, a year earlier, Apple said today in a statement. Sales rose 73 percent to $46.3 billion. Analysts surveyed by Bloomberg on average estimated profit of $10.14 a share on sales of $39 billion.
Apple sold 37 million iPhones, up from the previous record of 20.34 million. Customers snapped up the 4S model that went on sale in October, a week after the death of co-founder Steve Jobs.