January 19, 2011- This Tuesday, Apple reported healthy results from the holiday season, which went far beyond the bullish expectations of analysts.
The company stated its net income from the last quarter of 2010 ballooned to $6 billion, or $6.43 a share, a 78 percent rise in value from a year earlier. Revenue skyrocketed more than 70 percent to $26.74 billion,up from just $15.68 billion last year.
The reaction on Wall Street to the announcement was somewhat moderated. Off the opening bell, Apple’s shares lost more than 6 percent but recovered quickly and finished the day at $340.65, down $7.83 from the close on Friday. Analysts had predicted on Monday that there would be a much sharper correction.
Apple’s strong numbers in the last three months were mainly driven by strong public desire for Apple’s Macintosh computers and of course the iPad and iPhone.
“We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales,” Steve Jobs, CEO of Apple, said in a statement. “We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on.”