Apple Reports Sales Surge 61%
July 21, 2010 at 5:14 AM (PT)
APPLE CEO STEVE JOBS wowed analysts YESTERDAY (7/20), reporting quarterly sales surged 61%, with revenues up to a record $15.7 billion."It was a phenomenal quarter that exceeded our expectations all around," said JOBS.
Not everything APPLE touches is gold, however, as the iPOD, APPLE's once-hip hand-held music device whose functions have been co-opted by both the iPHONE and the iPAD saw sales sink. APPLE sold 9.41 million iPODS last quarter, an 8% decline from the same time last year, reports THE NEW YORK POST.
But there was plenty of good news, as APPLE posted a 78% rise in net profit to $3.25 billion, or $3.51 per share for the quarter.
APPLE says it generated $5.33 billion by selling 8.4 million iPHONES. The company also sold a record 3.47 million redesigned MACS during the quarter, and APPLE's new tablet, the iPAD, sold 3.27 units.
"And despite concerns about weakening margins," writes THE POST, "due to higher costs for its new iPHONE, APPLE's stock surged in after-hours trading on the results. After closing up 2.57% to $251.89, the stock soared another 2.81% to $258.98 on the news. The surge in share price wipes out most of the loss caused by the AntennaGate problem with the iPHONE 4."
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