CUPERTINO, Calif. — Apple Inc.’s fiscal second-quarter profit jumped 94 percent as the consumer electronics giant reported strong sales of its iPhone and iPad products.
The computer giant’s shares jumped nearly eight percent in after-hours trading as results topped analysts’ expectations.
The latest results come after Apple reported a blockbuster first-quarter, hitting new sales and profit records, thanks to the surging popularity of its smartphone and tablet computer.
For the quarter ended March 31, Apple reported a profit of $11.62 billion, or $12.30 a share, up from $5.98 billion, or $6.40 a share, a year earlier. Revenue increased 59 percent to $39.19 billion, with 64 percent of the top line coming from international sales.
In January, the company projected earnings of about $8.50 a share on revenue of about $32.5 billion, above Wall Street’s estimates at the time. Analysts had most recently forecast a per-share profit of $10.04 and revenue of $36.81 billion. Gross margin widened to 47.4 percent from 41.4 percent.
The company’s iPhone continued to be a key driver of growth in the latest period, as Apple sold 35.1 million iPhone units last quarter, up 88 percent from the prior year’s total.
Apple sold 11.8 million iPad units in the most recent period, more than double from a year earlier. Apple began selling the third-generation iPad last month, the first major product launch for Apple since the latest iPhone went on sale in October. Apple had said it sold a record three million iPads in the product’s first weekend of sales.
The maker of computers and electronics devices, known for traditionally giving conservative guidance, said it expects third-quarter earnings of about $8.68 a share on revenue of about $34 billion. Analysts surveyed by Thomson Reuters forecast a profit of $9.93 a share on $37.45 billion in revenue.
Last month, Apple unveiled plans to return some of its cash hoard to shareholders by declaring a long-awaited quarterly dividend, its first in more than a decade, and authorized a $10 billion share repurchase program to begin in the quarter starting Sept. 30.
Apple sold 7.7 million iPod media players, a 15 percent decline. Apple has reported declining sales for the iPod in recent quarters although the unit has likely benefited from higher average selling prices, as more consumers gravitate toward the iPod Touch.