Apple Records 78% Surge In Profits

By SpiderGroup

19 Jan 2011

We heard the other day about CEO Steve Jobs taking medical leave and  affecting Apple’s shares by 2.3 percent, but it’s not all doom and gloom for the American technology giant.

The company reported a 78% rise in net profit in the three months of December 2010 thanks to sales of the iPad and iPhone.""

Apple’s net income rose from $3.36 billion to $6.8 billion – their shares went from $3.67 to $6.43.

Apple says that their sales rose by 71% taking a considerable – $26.7 billion over the period.

In a conference call earlier today, Tim Cook, who is acting as CEO whilst Steve Jobs is away on medical leave said: “Apple is doing its best work ever. We are all very happy with the product pipeline, and the team here has an unparalleled breadth and depth of talent in a culture of innovation that Steve has driven in the company”.

-Via IT Portal

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