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Apple Quarterly Results -- Beyond Expectations
Apple continues to prosper. The company's second quarter results were far beyond market expectations. The company sold far more Macs and iPhones than analysts had predicted.
The second fiscal quarterly results for March 2011 shows that the company's total earnings stood at $5.99 billion, and revenue was around $24.67 billion compared to last year's revenue of $13.5 billion.
Within the period, Apple sold more than 18.65 million iPhones. This is 113 percent more than last year. About 4.69 million iPads were sold within the same period despite some supply problems. In addition, 3.76 million Macs were sold in the quarter. The total number of iPods sold was around 10 million units.
ITunes-related revenue was $1.63 billion in the March quarter. Although there was a revenue decline in Japan, Apple had 13.35 billion in short-term securities and $15.97 billion in cash. The company's research and development spending stood at $581 million, an increase from $426 million last year.
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