AnMaster.com

Alexkid

Apple results strong; record iPhone, iPad sales
PETER SVENSSON
(The Associated Press)



05:47:00AM (DST) Wednesday,July 20,2011.

NEW YORK (AP) — The iPhone is conquering Asia, the home of its strongest competitors. Sales there nearly quadrupled from a year ago and helped Apple Inc. trump analyst expectations for yet another quarter.

Apple also said iPad sales worldwide nearly doubled from a quarter ago, a sign that it has left the worst of its supply problems behind.

Apple's stock surged nearly 5 percent after the results came out.

Net income in the fiscal third quarter, which ended in June, was $7.31 billion, or $7.79 per share. That's more than double the $3.25 billion, or $3.51 per share, a year ago.

Analysts polled by FactSet were expecting earnings of $5.82 per share.

Revenue was $28.6 billion, up 82 percent from $15.7 billion a year ago. Analysts were expecting $24.8 billion.

The results were lifted by the sale of 20.3 million iPhones, millions more than analysts had expected. The phone's popularity in Asia, particularly in China, is helping. So is the fact that Apple keeps expanding the number of carriers that sell the phone. It was the first full quarter in which the phone was sold by Verizon Wireless, the largest carrier in the U.S. Before, only AT&T sold the phone in the U.S.


----------------------------------------------------------------------
* Stand up & take a bow Apple folks. *

__________________
Yeah...Do That.