Apple Q1 Profits Almost Double

Wednesday Jan 19th 2011 by Staff

The iPad and iPhone maker reports record earnings in its first fiscal quarter.

InformationWeek: On Tuesday, Apple announced that its profits for its first fiscal quarter hit $6 billion, or $6.43 a share, up from $3.38 billion, or $3.67 a share, a year ago. The company's revenue climbed to $26.74 billion, compared to last year's $15.68 billion.

Sales of 7 million iPads and an 86 percent increase in iPhone sales led the the good results. "We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales," CEO Steve Jobs said in a statement. "We are firing on all cylinders."

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