Apple has reported much better than expected results for the three months to the end of December due to record sales of iPhones and Mac computers.
Apple said it shipped 8.7 million iPhones in the quarter, just short of the Wall Street target of roughly nine million but double the number shipped in the same period a year earlier. Mac sales continued to show momentum, rising 33% from a year earlier to 3.36 million units. But iPod sales fell 8% to 21 million units.
The company recorded a net profit of $3.38 billion, or $3.67 a share, for the three months - its first financial quarter. This compared with $2.26 billion, or $2.50 a share, a year earlier. Revenue rose to $15.68 billion from $11.9 billion.
Apple's gross margin came in at 40.9%, up from 37.9% a year ago and trouncing Wall Street's estimate of 35.8 %.
Although Wall Street is already looking ahead to an announcement on Wednesday - when Apple is expected to unveil a new tablet computer - Apple's holiday quarter results provided the company with a strong start to the week.
Apple forecast earnings for the current quarter of $11 billion to $11.4 billion on earnings of $2.06 to $2.18 a share. Apple shares have more than doubled over the past 12 months.
