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Apple Reports Quarterly Profits Up To $11.6 Billion

     

engine

8:35 am on Apr 25, 2012 (gmt 0)

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Apple Reports Quarterly Profits Up To $11.6 Billion [bbc.co.uk]
Apple has reported its profits almost doubled in the first three months of the year.

Apple said its net profit came in at $11.6bn (7.2bn), up from $6bn in the same period last year and much better than had been expected.

The technology giant sold 35 million iPhones in the quarter, which was also almost double the level from a year ago.

Apple shares rose more than 7% to $601 in after-hours trading.

"Apple once again surprises on the upside despite expectations that iPhone sales would lag," said Michael Yoshikami, chief executive of YCMNet Advisors.

 

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