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'Phenomenal' results from Apple

Stock markets rise as result of better-than-expected earnings.

Apple CEO Steve Jobs
Image: Paul Sakuma/AP

GAINS have been seen on world markets as a result of better-than-expected earnings from Apple.

Revenues rose 88% in the third quarter up to June 26 to $15.7bn and the company saw a 78% jump in profits yesterday. The results show income jumping to $3.25 billion, or $3.51 per share, from $1.8 billion, or $2.01 per share a year ago. Shares for Apple are up 5% as a result.

According to Business Insider iPad, Mac, and iPod shipments were all stronger than expected: Apple shipped 3.27 million iPads, 3.47 million Macs, and 9.4 million iPods during the June quarter.

Reacting to the results Steve Jobs said “it was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4,” said Apple’s CEO. “iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”

This good news comes despite reports of antenna problems with the iPhone 4. Bloggers however are said to be positive about Jobs recent conference on the phones problems.

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About the author:

Daire Hickey

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