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Jan 24, 2012
Jan 24, 2012
Jan 24, 2012
Jan 24, 2012
Jan 24, 2012

Apple’s revenue surges, blows away targets

SAN FRANCISCO (Reuters) – Apple Inc’s fiscal first-quarter results blew past Wall Street expectations, fueled by robust holiday sales of its iPhones and iPads.

The world’s most valuable technology corporation sold 37.04 million iPhones – its flagship product – and 15.43 million iPad tablets, outpacing already heightened expectations for a strong holiday season.

Sales of iPhones and iPads more than doubled from a year ago.

The consumer electronics giant said on Tuesday its revenue leapt 73 percent to $46.33 billion, handily beating the average Wall Street analyst estimate of $38.91 billion, according to Thomson Reuters I/B/E/S.

Apple reported a net profit of $13.06 billion, or $13.87 a share. Analysts had expected Apple to earn $10.16 per share.

Average projections for sales of Apple products during the fiscal first quarter, which includes the holiday shopping season and one more week than is typical, were for roughly 31 million iPhones, 13.5 million to 14 million iPads and 5 million Mac computers.

On Tuesday, Apple also forecast results for its fiscal second quarter that were ahead of analyst estimates. It expects revenue of about $32.5 billion and diluted earnings per share of about $8.50.

Jan 24, 2012
Jan 24, 2012
Jan 24, 2012
Jan 24, 2012
Jan 24, 2012
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      "Poornima Gupta writes about technology out of San Francisco. She previously wrote about green technology, and spent five years in Detroit covering the crisis-ridden U.S. automotive sector that resulted in two of the biggest bankruptcy filings in the industrial world."
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