Apple Revs Up In Q2; Stock Reaches New High
April 21, 2010 at 4:31 AM (PT)
APPLE continues to be on a roll, surprising WALL STREET as its stock hit new highs YESTERDAY (4/20). The company that became the world's largest music retailer with its iTUNES site, had shares rising almost 6% in late trading after issuing a Q2 profit and revenue report that far exceeded expectations.
APPLE closed at $244.59 in regular trading before the earnings release.
Profit jumped 90% and revenue rose close to 50%, based largely on sales of the iPHONE and MAC computers. The iPHONE more than doubled sales to 8.75 million units, up more than 130% from a year earlier.
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