Apple Reports Astounding iPhone Sales

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Updated. Not long ago, it was a big deal if Apple sold 15 million iPhones over the holiday quarter. On Monday night, Apple announced it sold 37 million iPhones during its recent quarter ended December 31, 2011.

Apple logoIts  stunning iPhone performance helped Apple sail past Wall Street expectations of $39 billion in revenue.  Instead, the company reported a record quarterly revenue of $46.33 billion (up 73 percent from a year ago) and record net profits of $13.06 billion (more than double the profits from the quarter last year).

Apple sold 128 percent more iPhones than a year ago and 111 percent more iPads, reaching 15.4 million tablets.  It also sold 15.4 million iPods, marking a 21 percent decline.  Mac sales rose 26 percent to 5.2 million units.

The news generated a spike in Apple’s share price of 8 percent in late trading, bringing its share price to over $450 and bringing its evaluation (at least temporarily) to $426 billion,  higher than Exxon Mobil, the most highly valued company.  As of Wednesday morning, however, shares were back to about $420.

Source: Apple, MarketWatch

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