Apple reports another stellar quarter
Posted April 24, 2012 7:18 pm.
This article is more than 5 years old.
Apple Inc., the world’s most valuable company, trumped skeptics once again by reporting blowout iPhone sales.
Technology giant Apple reported second-quarter earnings per share of $12.30 (U.S.) and revenue of $39.1-billion, well ahead of expectations.
Apple CEO Tim Cook said the numbers were even a surprise to him.
“It is mind boggling that we could do this well,” Cook said during a teleconference, Tuesday.
Apple says it sold 35 million iPhones in the January-to-March quarter, almost twice as many as it sold a year ago and above analyst expectations.
The company says they have had tremendous global success of their iPhone 4S, which is now available in over 100 countries.
Apple’s stock was down 2 per cent at the close of regular trading, as investors believed phone companies had reined in iPhone sales. In extended trading, the stock rallied $43.83, or 7.8 per cent, to $604.11.
IPad sales also came in below analyst expectations, at 11.8 million units. But that was still two and a half times as many as it sold in the same quarter a year ago.
Apple executives say the new iPad was the company’s fastest iPod rollout on record.
As has been the trend the last year, Asia, and in particular China, accounted for much of the revenue growth. A quarter of Apple’s sales now come from Asia, excluding Japan.
