Apple Inc's fiscal first-quarter results blew past Wall Street expectations, fuelled by robust holiday sales of its iPhones and iPads. The world's most valuable technology corporation sold 37.04 million iPhones - its flagship product - and 15.43 million iPad tablets, outpacing already heightened expectations for a strong holiday season.
Sales of iPhones and iPads more than doubled from a year ago. The consumer electronics giant said on Tuesday its revenue leapt 73 percent to $46.33 billion, handily beating the average Wall Street analyst estimate of $38.91 billion, according to Thomson Reuters I/B/E/S. Apple reported a net profit of $13.06 billion, or $13.87 a share. Analysts had expected Apple to earn $10.16 per share.
Average projections for sales of Apple products during the fiscal first quarter, which includes the holiday shopping season and one more week than is typical, were for roughly 31 million iPhones, 13.5 million to 14 million iPads and 5 million Mac computers. On Tuesday, Apple also forecast results for its fiscal second quarter that were ahead of analyst estimates. It expects revenue of about $32.5 billion and diluted earnings per share of about $8.50. The December quarterly report marked Apple's first quarter without its legendary co-founder Steve Jobs, who died October 5.
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