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Apple Posts Record Sales, Profit

1/18/2011 04:50:14 PM Eastern

Cupertino, Calif.
- Apple reported record revenue and net profit for its fiscal first quarter,
ended Dec. 25.

Apple had revenue
of $26.74 billion and record net quarterly profit of $6 billion.

These results
compare with revenue of $15.68 billion and net quarterly profit of $3.38
billion in the year-ago quarter. Gross margin was 38.5 percent compared with
40.9 percent in the year-ago quarter, and international sales accounted for 62
percent of the quarter's revenue.

Apple sold 7.33 million
iPads during the quarter; 4.13 million Macs, a 23-percent increase over the prior
year's fiscal first quarter; 16.24 million iPhones, a whopping 86 percent jump
in unit growth; and 19.45 million iPods, a 7 percent unit sales increase, also
compared with the prior year's fiscal first quarter.

 "We had a phenomenal holiday quarter with
record Mac, iPhone and iPad sales," said Steve Jobs, Apple's CEO, in a prepared
statement. "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."

Still, shares
of Apple fell 3 percent
prior to the release of the fiscal first-quarter
report, based on news released yesterday that Jobs
would take another leave
from the company due to medical reasons.

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