Apple Posts $6 Billion Profit For First Fiscal Quarter

Apple has posted record revenue and profit in the first fiscal quarter of 2011, with increases in sales for the gaming-friendly iPhone and iPad leading to revenue of $26.74 billion and profit of $6 billion.
With Apple's iOS App Store about to see its 10 billionth download and analysis showing that, on average, each iOS device has downloaded over 60 apps, the increasingly gaming-friendly corporation has reported that it saw record revenue and profit in the first fiscal quarter of 2011. In the quarter ended December 25, 2010, Apple posted revenue of $26.74 billion, a growth of 71 percent compared to the same quarter a year ago. Quarterly profits rose 78 percent to $6 billion. Apple said a huge rise in sales of iPhones vastly contributed to these figures, with 16.24 million iPhones sold -- up 86 percent from the same quarter last year. Mac sales saw a 23 percent increase with 4.13 million Macs sold, while 7.33 million iPads were bought during the quarter. Only the iPod saw a decline in sales, with 19.45 million units sold -- down seven percent from last year's first fiscal quarter. Apple CEO Steve Job said in a statement: "We had a phenomenal holiday quarter with record Mac, iPhone and iPad sales. We are firing on all cylinders and we've got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can't wait to get their hands on." Earlier in the week, Jobs announced his second medical leave of absence from the company in two years, after a spat of health problems in recent years. He will still remain CEO of the company during this period.

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