IPhone helps up Apple profit 47 pc; stock leaps
Apple's net income rose 47 per cent in the most recent quarter as more people gave in to the iPhone craze. The results, sent Apple shares surging 6 per cent in extended trading.business Updated: Oct 22, 2009 15:38 IST
Apple's net income rose 47 per cent in the most recent quarter as more people gave in to the iPhone craze. The results, released Monday, sent Apple shares surging 6 per cent in extended trading.
Apple unveiled a faster iPhone in June and cut the price of the previous generation of the phone to $99. That boosted iPhone sales from July through September to 7.4 million devices, half a million more than last year.
Apple weathered the economic meltdown better than other computer companies, giving it a running start when PC sales grew in the quarter. Apple sold 3.1 million Macs, a 19 percent rise from the same period a year ago.
Apple says it earned $1.82 per share in its fiscal fourth quarter. Sales jumped 25 percent to $9.9 billion. Apple shares were up $11.64 at $201.50 in extended trading, nearing a multiyear high, after closing the regular session at $189.86, up 1 per cent on the day.