Apple Earns $11.6B on Q2 iSales
The iPhone maker sold 35.1 million smartphones, 88 percent more than the year-ago quarter, and 11.8 million iPads in the quarter, an 151 percent unit increase over last year but less than some analysts were expecting with the latest Long Term Evolution (LTE) iPad included this quarter. (See Apple Intros First 4G LTE iPad.)
Apple earned $12.30 a share on revenues of $39.2 billion. A year earlier it reported a profit of $5.99 billion or $6.40 a share on revenues of $24.67 billion.
Analysts polled by Thomson Reuters expected a profit of $10.04 on revenue of $36.8 billion. Shares in the company had fallen 10 percent in the past 10 days of trading as investors worried about slowing iPhone growth.
Shares of Apple are up $35.38 (6.31%) to $595.66 in after-market trading.
— Sarah Reedy, Senior Reporter, Light Reading Mobile