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Apple's quarterly profit surges 94pct to $11.6bn

Washington, Wed, 25 Apr 2012 ANI

Washington, Apr 25 (ANI): Tech giant Apple Inc's profits in the first three months of the year have reached 11.6 billion dollars, smashing Wall Street expectations.

The net profit was 94 percent higher than in the same quarter last year and dwarfed the 9.4 billion dollars that analysts had forecast.

Apple sold 35.1 million iPhones during the quarter, an 88 percent increase from the period a year ago.

It sold 11.8 million iPads, more than double the number it sold in the same quarter last year, The Telegraph reports.

The results were enough to drive Apple shares five percent higher in extended trading in New York.

According to the paper, international sales accounted for 64percent of the 39.2 billion dollars of revenue that Apple generated in the quarter.

Meanwhile, analysts have predicted the performance will go a long way to ease a cluster of concerns that had seen Apple's shares fall 12 percent in the past fortnight. (ANI)


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