Astounding earnings from Apple: Stock price up $30 in after-hours trading
Apple’s first-quarter results announced this evening have blown away Wall Street’s estimates. The company recorded a stonking and unexpected $46.3 billion revenues and earnings per share of $13.87. Both iPad sales (15.4 million) and iPhones (37 million) comfortably exceeded even the wildest analyst projections. Even Mac sales remained extremely healthy at 5.3 million units.
According to Erick Schonfeld writing in TechCrunch, Apple’s growth in the quarter was astounding: “It has now sold 315 million cumulative iOS devices.” Apple ended the quarter with $97 billion in cash.