Apple doubles iPhone sales!

How do they keep doing it??
Apple continues to set record sales as it sold more than twice as many iPhones (18.6 million) in the first quarter 2011 than in the same period a year ago. Apple also reported quarterly profits of $5.99 billion, up 95% from $3.07 billion in the year-earlier quarter. Revenue rose 83% to $24.67 billion!

Apple’s visionary leadership continues to amaze wall street and industry analysts alike, the question is “What will happen to Apple after Steve Jobs and his influence is out of the picture?

Care to comment…

Amplify’d from www.wallstreetjournal.com

IPhones Power Apple’s Growth

Apple Inc.’s quarterly profit nearly doubled as consumers continued to snap up its iPhone and other products, and the company issued a forecast suggesting it will remain largely unscathed by last month’s Japan earthquake and the medical leave of Chief Executive Steve Jobs.

Apple on Wednesday posted a quarterly profit of $5.99 billion, up 95% from $3.07 billion in the year-earlier quarter. Revenue rose 83% to $24.67 billion, while gross margin rose to 41.4% from 38.5%.

Apple’s quarter was stoked in particular by sales of the iPhone. The company began selling its iPhone 4 through Verizon Wireless in February—its second carrier in the U.S. after an exclusive arrangement with AT&T Inc. ended.

Apple’s earnings rose sharply thanks to strong iPhone sales, and the company downplayed concerns about Japan’s impact on its supplies, its recent lawsuit against Samsung and CEO Steve Jobs’s medical leave. WSJ’s Jake Lee and Andrew LaVallee discuss.

The company said Wednesday that it sold 18.6 million iPhones over the quarter, more than double that of a year ago. That figure was also 15% higher than the December quarter, which is typically Apple’s strongest period since it is fueled by holiday sales. Wall Street estimates had called for sales of 16.5 million iPhones over the quarter. “We saw stunning iPhone sales,” said Peter Oppenheimer, Apple’s chief financial officer, in an interview.

Read more at www.wallstreetjournal.com

 

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