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Apple Q1 Profits Up 71pct at $6 Billion

12:30 pm on Jan 19, 2011 (gmt 0)

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Apple Q1 Profits Up 71pct at $6 Billion [bbc.co.uk]
Apple made record profits and record revenues in the run-up to Christmas as shoppers bought more Macs, iPhones, and iPads than analysts predicted.

The company said that in the three months to 25 December, net profit was $6bn (3.7bn) on revenues of $26.74bn.

Steve Jobs, Apple's chief executive, said in a statement: "We had a phenomenal holiday quarter."

Apple's first-quarter profit is a 71% jump on the same period last year.

12:51 pm on Jan 19, 2011 (gmt 0)

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In other news, Facebook was valued at $50 Billion as shoppers bought more lunch-updates, Lady-Gaga-likes, and cat photos than the same analysts predicted.


1:35 pm on Jan 19, 2011 (gmt 0)

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Apple is now valued at over USD300 billion. What a company!
2:59 pm on Jan 19, 2011 (gmt 0)

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A bit morose but I love the idea of:

1. CEO, knowing the earnings, announces he's going on medical sabbatical

2. Market open and stock drops 20 billion in value as investors everywhere believe the only reason Apple is great because of the CEO

3. Earning report comes in at $1.04 above what the street expected (Reuters/Standard Poor)

4. After hours trading has AAPL up 4%

5. The Modern Day PT Barnum --> Steve Jobs smirking as he looks at his doctors.