20 Apr '11, 9pm

Apple posts US$5.99b quarterly net profit

SAN FRANCISCO: Apple nearly doubled its quarterly net profit on record iPhone sales but iPad sales dipped and the company is dealing with the "mother of all backlogs" in meeting demand for the tablet computer. Apple said on Wednesday that net profit rose 95 percent in the second quarter of its fiscal year to $5.99 billion while revenue rose 83 percent to $24.67 billion, beating the expectations of Wall Street analysts. Earnings per share were $6.40, up from $3.30 a year ago. The Cupertino, California-based gadget-maker said it sold 18.65 million iPhones during the quarter, up 113 percent over a year ago and helped by the addition of a second US carrier, Verizon. Apple sold 4.69 million iPads during the quarter which ended on March 26, down from 7.33 million sold during the first quarter of its fiscal year and less than expected by analysts. Apple sold 3.76 million Macintos...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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