Big Apple. Image via CrunchBase
Shares in iPad maker up more than 3% in after-hours trading.
Surging demand for iPhones and Macintosh computers sparked a 94.8% jump in earnings for the quarter ending in March, Apple reported Wednesday. The news sent Apple shares up more than 3% in after-hours trading.
The Cupertino, California-based reported net income of $6.0 billion, or $6.40 per share, on $24.7 billion in sales compared to net income of $3.3 billion or $3.33 per share, on $13.5 billion in sales during the year-ago period.
Apple reported gross margins for its fiscal second quarter of 41.4%, compared to the 39% analysts polled by Thomson Reuters had been expecting.
Those results easily surpassed of expectations of the consensus earnings per share estimate of $5.35 per share on $23.4 billion in sales compiled by Thomson Reuters.
While iPhone and Macintosh sales were strong, sales of iPods and iPads fell short of some analyst's expectations (see "March Quarter iPhone Sales Up 113% Year-Over-Year; iPod Sales Fall 17%; 4.69 Million iPads Sold" for more detail). In the quarter, the company sold 18.7 million iPhones, 4.7 million iPads, 3.8 million Macs and 9.0 iPods.
“With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders,” Apple Chief Steve Jobs said in a statement. “We will continue to innovate throughout the remainder of the year.”
Apple offered typically conservative guidance, promising investors earnings of "about" $5.03 per share on sales of $23 billion.
Last quarter, Apple Chief Financial Officer Peter Oppenheimer had promised second-quarter earnings per share of $4.90 on sales of $22 billion.
Investors are expecting earnings per share of $5.25 on sales of $23.8 billion, according to Thomson Reuters.
Apple shares rose $11.39, or 3.33%, to $353.80 in after-hours trading Wednesday.
