Apple reports better-than-expected quarterly earnings
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Apple Inc. on Wednesday reported record second fiscal quarter results that beats analysts expectations, citing strong demands for its products.
For its fiscal 2011 second quarter ended on March 26, Apple posted net income of 5.99 billion U.S dollars or 6.4 dollars per share, compared with 3.07 billion, or 3.33 dollars per share a year ago. Its revenue reached 24.67 billion dollars, compare with 13.5 billion in the same period a year earlier.
Analysts polled by Thomson Reuters gave an average estimate of 5.35 dollars earning per share on revenue of 23.3 billion.
"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," said Steve Jobs, Apple's CEO. "We will continue to innovate on all fronts throughout the remainder of the year."
