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Dollar Signs Apple Reports Blowout Earnings George Frey / Landov

Apple Reports Blowout Earnings

Apple has found one bright spot during the grim days of Steve Jobs' poor health: The company just posted astounding earnings in the first quarter of fiscal year 2011. The tech giant's revenue jumped over 71 percent to $26.74 billion in the holiday quarter from a year earlier. It shipped 16.2 million iPhones and 7.3 million iPads, well above Wall Street predictions—the iPad alone generated $4.4 billion in revenue. Steve Jobs said in a statement: "We are firing on all cylinders and we’ve got some exciting things in the pipeline for this year including iPhone 4 on Verizon which customers can’t wait to get their hands on."

January 18, 2011 12:25 PM