Apple's iPhone Sales Drive Big Quarterly Profit

Company sold 8.7 million units — up 130 percent; net income up 90 percent

Steve Jobs is on a bit of a roll.

Apple reported strong sales of iPhones and Macs during its second fiscal quarter, leading to a 90 percent surge in quarterly profit.

The company said Tuesday that it sold 8.7 million iPhones during the quarter, up over 130 percent from the same period last year. Apple sold 2.94 million Macs – up about 40 percent. Sales were down about 1 percent for the iPod, but Apple’s iTunes store recorded its best quarter ever.

Sales of the Apple iPad did not figure into the quarterly earnings figures. But executives are nonetheless giddy. "I'm already personally addicted to mine and couldn't live without it," Apple chief operating officer Tim Cook said. "We had what we thought were high hopes. And we've exceeded those."

Overall, Apple’s revenue — at $13.5 billion — increased 49 percent. Net income was $3.07 billion, or $3.33 per share, up about 90 percent compared to net income of $1.62 billion, or $1.79 per share during the same period last year. (The results beat Wall Street's expections. Analysts had been expecting $2.45 per share on revenue of $12 billion, according to Reuters.)

The statement from Jobs: "We've launched our revolutionary new iPad and users are loving it, and we have several more extraordinary products in the pipeline for this year."

Apple’s stock price shot up more than 6 percent (or more than $14 to $259 per share) during after hours trading on the news.

During a conference call with investors, the company did not address the saga surrounding the purportedly lost next generation iPhone or the photos that were posted by Gawker’s Gizmodo blog.

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