Apple posts record results
Apple shares were up 8% in early trading today to $454.45. At its highest, the rise in shares added nearly $32 billion to Apple’s market value, helping to push it to become the world’s most valuable company with a market capitalisation of $430 billion.
Apple sold 37.04 million iPhones and 15.43 million iPads, doubling from a year earlier, in the Christmas season, according to the company’s results.
The company reported record quarterly revenue of $46.33 billion and record quarterly net profit doubling to $13.06 billion in the last 14 weeks of 2011.
The headline figures:
- Apple quarterly profit more than doubles to $13.1 billion
- Sold 37 million iPhones – over 20pc more than expected
- iPad sales rise 11pc to 15.4 million
- 85m have signed up for iCloud
Tim Cook, chief executive of Apple, said: “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
Read the Apple statement here and see “Apple’s monster quarter in charts” here.