Apple's 'Mind-Boggling' Quarter

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Blew away Wall Street estimates, and revenue moved well past the $40 billion mark in its latest quarter, as sales of the iPhone, iPad, and Macs were extremely strong for the holiday period.
Apple reported earnings of $13.06 billion (Rs.65,300 Crores) or $13.87 a share, on revenue of $46.33 billion (Rs.2,31,650 crores) for its fiscal first quarter ended Dec. 31.

We're thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs," said Tim Cook, Apple's CEO, in the press release. "Apple's momentum is incredibly strong, and we have some amazing new products in the pipeline."

International sales accounted for 58% of the company's quarterly revenue. The demand in China "has been staggering," Cook said. China is Apple's fastest growing market.

The Cupertino-based company sold 37.04 million iPhones, 15.43 million iPads, 5.2 million Macs, and 15.4 million iPods during the holiday quarter. Gross margins during the quarter were 44.7%, compared to 38.5% a year ago.

Cook did not make any mention of the oft-rumored Apple TV when asked, but did refer to the Apple TV device still as a "hobby," and the company "will continue to pull strings and see where it takes us."

The iPhone is changing the way we work, with nearly all Fortune 500 companies supporting iPhones on their network, CFO Peter Oppenheimer said on the conference call. The iPhone 4S available in 90 countries, and it is Apple's fastest roll out ever.

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