iPhone and iPad fuel Apple's best ever quarter
by Steven Mostyn - Jul 20 2011, 08:10
Coinin' it in! Image: _J_D_R/Flickr.
Apple’s rivals might be snapping at its heels in the smartphone and tablet markets, but the Cupertino-based hardware maker remains nothing short of a gadget-based goldmine for its shareholders.
More pointedly, Apple has this week released its latest quarterly report, which leads with revenue of $28.57 billion USD, a whopping 90 percent year-on-year increase when measured against the same period in 2010.
Further to that initial eye-opener, Jobs & Co. have secured $7.31 billion USD in quarterly profit, which is a staggering yearly leap of 124 percent. Perhaps unsurprisingly, Apple’s stock value has rocketed beyond the $400 USD mark for the very first time thanks to a shunt of $23.22 USD per share.
According to Apple CEO Steve Jobs, the new financial report reflects the company’s best ever quarterly performance, which was most likely fuelled by the sale of 20.34 million iPhones and 9.25 million iPads.
Although the leadership of Apple’s iconic chief executive is quite clearly paying off for shareholders, the positive numbers arrive in the same week that reports have surfaced regarding the iconic visionary’s downfall.
Specifically, the Wall Street Journal has cited sources close to the matter in claiming that certain members of Apple’s upper echelon are currently working to find a permanent replacement for Jobs.
Jobs, who is presently on a medical sabbatical believed to be linked to his long battle with pancreatic cancer, has shrugged off the rumour, describing it as “hogwash”.
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