25 Jan 2012

$US13.1 billion record Q4 profit for Apple

6:58 pm on 25 January 2012

Apple has reported a record quarterly profit of $US13.1 billion for the three months to 31 December 2011, compared with the same period a year earlier, due to continuing high demand for iPhones and iPads.

Revenue rose by 73% to $US46 billion, after sales of 37.04 million iPhones and 15.43 million iPad tablets. However, sales of the iPod, fell by 21%.

Shares in Apple leapt 8% to about $US452 in extended trade following the earnings report. The stock closed at $US420.41 on the Nasdaq.

Analysts say Apple captures more than half the profits in the mobile phone market. Its cash reserves are almost $100 billion.

In contrast, Yahoo had a slump in earnings with its profits falling 5% to $US296 million in the December quarter.

Yahoo is losing market share to Google and social networks like Facebook, and has had four chief executives in five years. Founder, Jerry Yang, quit the board last week.