Apple’s 1Q profit hits $11.6B on iPhone-iPad sales

ipad iphoneApple have just reported it made a profit of $11.6 billion for the first quarter of this year driven by the overwhelming sales of iPhones and iPads in the market. Revenue record was $39.2 billion, with doubled iPad sales while iPhone surged 88-percent compared to same quarter record of last year.

“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” according to Apple CEO Tim Cook. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”

Accordingly, the Cupertino-giant’s net income for the quarter was nearly doubled prior to same quarter last year tallied $24.7 billion. “Our record March quarter results drove $14 billion in cash flow from operations,” said Apple chief financial officer Peter Oppenheimer. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”

The strong iPad sales for this quarter was due to its third-gen release of the magical tablet —-that positively contribute to the company’s profit. And as we know, this was just the tip of the iceberg as iPhone 5 is on it’s way.

Immediately after the earning announcement the losing trend for Apple reversed surging to more than seven percent to $602.20 a share on the NASDAQ.

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