By Agency reporter

Friday, 21 Jan 2011

NEW YORK: Apple says its latest profits were $6bn – a 78 per cent rise on a year ago – which may help ease investor concern after boss Steve Jobs decided to take medical leave.

It is not known how long Jobs will be away for

According to Sky News on Thursday, the tech giant’s figures were better than expected and were helped by impressive sales of the iPhone and iPad over the Christmas period.

Apple says it sold over seven million iPads, about a million more than predicted, and also shifted more than 16 million iPhones in the first quarter which ended on December 25 2010.

The $6bn (£3.76bn) profit figure, or $6.43 per share, compared with $3.4bn (£2.13bn), or $3.67 per share, for the same period a year earlier.

Analysts had forecasted $5.41 per share for the latest quarter.

The figures were announced after regular trading ended, which saw the company’s share price close down 2.3 per cent at $340.65 on the Nasdaq.

But the shares then rose 1.9 per cent to $347.57 in extended trading after the release of the results.

The company is firing on all cylinders. The iPad continues to be a game changer.

Chief executive Jobs’ decision to temporarily leave the firm comes two years after he took a six-month break during which he underwent a liver transplant.

In his latest statement, the 55-year-old did not say how long he expected to be away or provide any details about his latest health issues.

Chief operating officer Mr. Tim Cook will look after the firm’s day-to-day operations in his absence.

An analyst at BGC Partners, Mr. Colin Gillis, said the latest Apple profits were “crazy good”.

He added, “The company is firing on all cylinders. The 7.3 million iPads, that is a great number, that is about one million more than people are looking for.”

“The iPad continues to be a game changer.”

Tim Cook will be responsible for Apple’s day-to-day operations

On Jobs’ health, Gillis said, “Steve is an important part of what Apple is, everyone wants to know does the company fall apart? No.

“More data is always better than less (on health issues). But nonetheless they disclosed what they are going to disclose consistent with patterns.”

In an email to Apple employees, Jobs said, “At my request, the board of directors has granted me a medical leave of absence so I can focus on my health.”

 

Source: Punch