On Tuesday, Apple shattered all standing records with regard to the company’s quarterly earnings.
After the close of business on Wall Street today, Apple announced its earnings rose more than 117% to $13.06 billion last quarter, or $13.87 per diluted share.
Apple’s revenue was a new quarterly best at $46.33 billion. Earnings were forecast to climb by just 57% to $10.08 a share with revenue projected at $38.85 billion.
Apple sold 37 million iPhones, 15.4 million iPads and 5.2 million Macs during the quarter.
“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Apple CEO Tim Cook. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
In after hours trading, shares of Apple (AAP) also felt like making history, trading a record high of $450 a share.
“Overall the results are phenomenal,” Hendi Susanto, an analyst at Gabelli & Co., tells CNBC. “The highlight of the results are the gross margins which are extremely strong despite concerns that the iPad carried lower than corporate average gross margin and that it would dilute overall gross margin. That’s the biggest takeaway.”
“Going into 2012 I expect strength of iPhone, iPod Touch and iPad should carry on into the year. Apple still has some tailwind including opening up new retail stores and expanding its distribution channels,” Susanto added.
