Apple Earnings Soar on Huge iPhone Sales

Company sells 37M as earnings double
By John Johnson,  Newser Staff
Posted Jan 24, 2012 3:59 PM CST
Apple Earnings Soar on Huge iPhone Sales
The iPhone 4S is shown by a customer at a shop in Tokyo on the launch day in Japan Friday, Oct. 14, 2011.   (AP Photo/Itsuo Inouye)

Apple's first quarter since the death of Steve Jobs went very, very well: The company reported that net income doubled to a record $13.1 billion from the same period last year, reports MarketWatch. That translates to $13.87 per share, beating by a mile analysts' estimates of about $10 a share, notes the Wall Street Journal. Credit the iPhone: The company shipped 37 million, well more than the 30 million analysts expected. The iPad also did well, with 15.4 million sold instead of the 13.8 million that were forecast. (Read more Apple stories.)

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