Sales of 35 million iPhones double tally from year ago
Apple, the world’s most valuable company, trumped skeptics once again by reporting blowout iPhone sales. Apple said it sold 35 million iPhones in the January-to-March quarter, almost twice as many as it sold a year ago and above analyst expectations.
Net income in the company’s fiscal second quarter was $11.6 billion, or $12.30 per share. That was nearly double the net income of $6 billion, or $6.40 per share, a year ago.
Analysts polled by FactSet were expecting earnings of $10.07 per share for the latest quarter, Apple’s fiscal second.
Revenue was $39.2 billion, up 59 percent from a year ago. Analysts were expecting $37 billion.
IPad sales came in below analyst expectations, at 11.8 million units. But that was still 2K times as many as it sold in the same quarter a year ago.
Apple launched a new iPad model in the quarter.
AT&T • Net income in the first quarter rose to $3.6 billion, or 60 cents per share, up from $3.4 billion in the year-ago quarter, while revenue climbed 1.8 percent to $31.8 billion.
The net income was above the expectations of Wall Street analysts.
AT&T, based in Dallas, said the quarter broke a previous first-quarter record for sales of smartphones, which in turn drove revenue from wireless data.
3M • Better-than-expected first-quarter profit came as strong sales to auto and airplane makers and growth in Latin America and Canada helped offset weakness in Europe and Asia.
Net income rose 4 percent to $1.13 billion, or $1.59 per share. It would have been higher by another 4 cents per share if not for charges for a voluntary early-retirement program. The profit was well ahead of the $1.48 per share expected by analysts surveyed by FactSet. Revenue rose 2.4 percent to $7.49 billion, matching analyst expectations.
United Technologies • Net income from continuing operations rose more than 19 percent during the first quarter, factoring out the businesses that the manufacturer put up for sale.
The company posted earnings of $1.26 billion, or $1.31 per share, compared with earnings from those same operations last year of $1.05 billion, or $1.06 per share.
That topped the $1.21 expected on Wall Street, according to a poll by FactSet. Denver Post wire services
