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.

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.

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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.