Apple trumps expectations, sells 35M iPhones in 2Q
NEW YORK (AP) - April 24, 2012 (WPVI) -- Apple, the world's most valuable company, is trumping skeptics once again by reporting blow-out iPhone sales.
Apple says it sold 35 million iPhones in the quarter, almost twice as many as it sold a year ago and above analyst expectations.
Apple shares were down before the report because investors believed phone companies had reined in iPhone sales.
Net income in the fiscal second quarter, which runs January to March, was $11.6 billion, or $12.30 per share. That was up nearly double the net income of $6 billion, or $6.40 per share, a year ago.
Analysts polled by FactSet were expecting earnings of $10.07 per share for the latest quarter, Apple's fiscal second.
Revenue was $39.2 billion, up 59 percent from a year ago. Analysts were expecting $37 billion.
apple, iphone, business/finance
- Police: Missing boy struck by car
- Temps soar above normal
- WATCH: Action News Online
- 2013 Troop Greetings
- Coffins unearthed at North Philly school
- No jackets for North Philadelphia cheer squad
- Attack in Center City caught on camera
- Police: Threat to father used in phone scam
- Stolen cobalt-60 found abandoned in Mexico
- Report: NSA tracks billions of cellphones daily
- Kutztown coach accused of covering up teen's rape
- Prosecutor: Sex investigation of FSU QB over
- Photos: 6abc at Q102 Jingle Ball 2013
- Video: 20th annual Phila. holiday tree lighting