Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

NYT: Germanwings pilot was locked out of cockpit before crash

Read more

BUSINESS DAILY

A food goliath in the making

Read more

IN THE PAPERS

Fans distraught as Zayn leaves One Direction

Read more

FOCUS

French baking taking over the world

Read more

ENCORE!

Carl Barat’s Glory Days

Read more

DEBATE

French Alps plane crash: Investigators have no explanation so far (part 1)

Read more

DEBATE

French Alps plane crash: Investigators have no explanation so far (part 2)

Read more

EYE ON AFRICA

Nigeria's Agriculture Minister defends Goodluck Jonathan's track record

Read more

WEB NEWS

Mexico wants Carmen Arestegui back on air

Read more

Business

Apple's quarterly net profit soars

Text by News Wires

Latest update : 2010-10-18

Apple Inc has posted better-than-expected net profit, 4.31 billion dollars, from sales of iPhones and iPads, and set a revenue forecast for this current quarter that well exceeds Wall Street's target.

REUTERS - Apple Inc posted better-than-expected profit and revenue and set a revenue forecast for the current quarter that was well above Wall Street's target.
 
The company reported a net profit of $4.31 billion, or $4.64 a share, in the fiscal fourth-quarter ended Sept. 25, up from $2.53 billion, or $2.77 cents a share, in the year-ago period.

That was better than the average analyst estimate of $4.08 a share, according to Thomson Reuters I/B/E/S.

Revenue surged 67 percent to $20.3 billion, ahead of Wall Street's target of $18.9 billion.

The company forecast current-quarter earnings of $4.80 a share on revenue of $23 billion.

Shares of Cupertino, California-based Apple closed at $318.00 on Nasdaq and were halted in after-hours trading.

Date created : 2010-10-19

COMMENT(S)