THE IPHONE CONTINUES to dial in the money for Apple as the company’s quarterly earnings grow by 95 per cent.
The number of phone sold has more than doubled since this time last year, helping Apple to realise earnings of almost $6 billion in the last quarter. Revenue meanwhile is up 83 per cent. However, sales of iPads have been disappointing.
The number of iPhones sold since this time last year has risen from 8.75 million to 18.6 million in just one year, while quarter-on-quarter sales suggest that the demand for the gadget remains strong. The iPhone 5 could be hitting shelves later this year.
The strong earnings report from Apple, along with General Electric and Morgan Stanley, has seen significant rises in shares on Wall Street.
Speaking following the release of the earnings report Apple’s chief operating officer Tim Cook said that CEO Steve Jobs continues to be involved in all major strategic decisions. Jobs stepped aside in January for medical reasons. Cook says that Jobs wants to return to his full time role as soon as possible.