Apple earnings surge 95% in second quarter
April 20, 2011, 4:34 p.m. EDT
SAN FRANCISCO (MarketWatch) -- Apple Inc. reported a 95% surge in earnings after the closing bell on Wednesday, blowing past Wall Street's estimates. For the quarter ended March 26, Apple (NASDAQ:AAPL) reported net income of $5.99 billion, or $6.40 per share, compared to net income of $3.07 billion, or $3.33 per share, for the same period the previous year. Revenue jumped 83% to $24.67 billion. Analysts were expecting earnings of $5.36 per share on revenue of $23.3 billion, according to consensus estimates from FactSet Research. For the June quarter, the company said it expects earnings of $5.03 per share on revenue of $23 billion; analysts had been expecting earnings of $5.25 per share on revenue of $23.8 billion.
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