Damn The Recession! Apple Biz Beats Expectations
January 21, 2009 at 3:40 PM (PT)
APPLE, INC.presented its 1Q earnings report that bettered WALL STREET expectations for the current economic malaise. In doing so, it helped APPLE stock jump 9% in after-hours trading.
Net income rose almost 2% to $1.61 billion, or $1.78 per share, in the three months ended Dec. 27th, compared with $1.58 billion, or $1.76 per share, a year ago. Revenue rose 6% to $10.17 billion from $9.61 billion. Analysts expected sales of $9.74 billion, reports CNN MONEY. "Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in APPLE history," APPLE CEO STEVE JOBS said in a statement..
APPLE sold 22.7 million iPODS increased 22.7 million (compared to 22.1 million a year ago), 4.4 million iPHONES (up from 2.3 million), and 2.5 million MACINTOSH computers (up from 2.3 million a year ago).