Wednesday, January 25, 2012

Apple Shares Soar On Upbeat Earnings

Shares of Apple Inc. (NASDAQ: AAPL) surged more than 6% on Wednesday, a day after the iPhone maker reported net income of $13.1 billion, or $13.87 per share, compared with net income of $6 billion or $6.43 per share in the year-ago quarter. Revenue surged 73% to $46.3 billion. Analysts, on average, expected the company to report earnings of $10.08 per share on revenue of $38.85 billion for the quarter.

Apple said it shipped 37.04 million iPhones, 15.43 million iPads, 5.2 million Macs and 15.4 million iPods.

Looking ahead, Apple forecast revenue of $32.5 billion and earnings per share of $8.50.

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