Apple Profit Tops Estimates on Record Sales of IPhone, IPad
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Apple Inc., the biggest technology company by market value, reported third-quarter profit that topped estimates, lifted by record sales of iPhones and iPad tablets. The stock jumped to an all-time high in late trading.
Net income in the period more than doubled to $7.31 billion, or $7.79 a share, from $3.25 billion, or $3.51, a year earlier, Apple said today in a statement. Sales climbed 82 percent to $28.6 billion. Analysts had predicted profit of $5.87 a share and revenue of $25 billion, according to Bloomberg data.