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Wednesday, 19 January 2011 10:23

Apple reports record quarterly profits

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Up 71 percent year-on-year
Apple has shaken up the market for the second time in just two days. A day after announcing CEO Steve Jobs’ will take a medical leave of absence, Cupertino announced record breaking results for Q4 2010.

Apple’s quarterly revenue was $26.7 billion and the outfit reported a net profit of $6 billion. Compared to Q4 2009, Apple’s profit jumped 71 percent and reported a massive increase in shipments across its product portfolio.

Mac sales jumped 23 percent, while iPhone sales went up 86 percent year-on-year, with 16.2 million units shipped in Q4. iPod sales dropped seven percent, as more and more users are opting for the iPhone instead. The iPad has proven to be a major success as well, with sales of 7.3 million.

Apple shares jumped 4 percent on the news, just in time to offset losses resulting from Jobs’ medical leave announcement.

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