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Apple, Inc. has record quarter profits
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January 26, 2010
Original URL: http://en.wikinews.org/wiki/Apple,_Inc._has_record_quarter_profits


Apple Inc. has announced that, in the fiscal quarter that ended on
December 31, its profits increased by 50% from a year earlier, the
highest ever recorded for the company.

The profits were equal to US$3.4 billion, or $3.67 per share. Analysts
polled by the Thomson Reuters, however, forecast earnings of $2.08 a
share.

Apple sales, meanwhile, increased by 32% to a record $15.7 billion from
$11.9 billion the year before, above the $12.1 billion predicted by
economists. This is the second consecutive quarter in which Apple has
made record revenue. According to PC Magazine, of the revenue, $5.8
billion was in cash.

For this quarter, Apple has forecast its revenue to be somewhere between
$11 billion and $11.4 billion, or earnings of $2.06 to $2.18 per share.

Before the results were announced, Apple shares rose $5.33, or 2.7%, to
close at $203.08 at the New York stock market, whilst in extended
trading the shares went up an additional $1.28, reaching $204.36. 

Steve Jobs, the Apple CEO, commented in a statement that "if you
annualize our quarterly revenue, it's surprising that Apple is now a
$50+ billion company. The new products we are planning to release this
year are very strong, starting this week with a major new product that
we're really excited about."

Daniel Ernst, with Hudson Square Research, remarked that "it was a very
good quarter, as expected. It's a continued sign that Apple has great
products that consumers want despite this recession. Mac sales were
phenomenal as well [...] Macs continue to gain share and what's
interesting is that it only has 3.6% share globally so there's a lot of
headroom." 

== Sources ==
* http://news.yahoo.com/s/ap/20100125/ap_on_hi_te/us_earns_apple
* http://money.cnn.com/2010/01/25/technology/apple/
* http://www.pcmag.com/article2/0,2817,2358399,00.asp
* http://news.bbc.co.uk/2/hi/business/8479912.stm