Apple Results Top Estimates as iPhone Sales Soar |
| Forbes - Apr 25, 2012 |
Apple, which now has more than $100 billion in cash on hand, said today that second-quarter sales and profit rose on continued demand for the iPhone 4S and new buyers of the third-generation iPad.
But with about a 40 percent rise in the shares so far this year, the question is whether that’s enough to keep investors happy.
In the second quarter, Apple said it sold 35.1 million iPhones, 11.8 million iPads and 4 million Macs. Analysts were predicting sales of 31 to 32 million iPhones, 12-13 million iPads and about 4 million Macs.
Sales rose to $39.2 billion, up from $24.67 billion a year ago. Profit was $11.6 billion, or $12.30 a share, up from $6.40. Analysts on average were expecting sales of $36.8 billion and profit of $10.06 in the March period. Gross margin was 47.4 percent, compared to the 42 percent that Apple said it was expecting.
Read Full Article from Forbes
- Posted: 2012-04-25 10:51:04
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