Apple on Tuesday reported a 90 per cent increase in second-quarter profit, far surpassing bullish Wall Street estimates with a 49 per cent increase in revenue.
The consumer computer products group had been expected to record earnings per share of $2.46 on sales of about $12bn; instead, it reported $3.33 a share, or $3.1bn in total, on sales of $13.5bn in the three months to March 27. Stock in Apple rose more than 5 per cent in after-market trading.
Steve Jobs, chief executive, said the new iPad computer had been well received since going on sale on April 3 and promised “several more extraordinary products in the pipeline for this year”. Analysts expect a new version of the iPhone to be released as early as June.
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