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Apple nearly doubles net profit, iPad sales dip

by Staff Writers
San Francisco (AFP) April 20, 2011
Apple nearly doubled its quarterly net profit on strong demand for the iPhone as sales of its iPad tablet computer dipped sharply.

Apple said Wednesday that net profit rose 95 percent in the second quarter of its fiscal year to $5.99 billion while revenue rose 83 percent to $24.67 billion, beating the expectations of Wall Streets analysts.

Earnings per share were $6.40 in the second quarter, up from $3.30 a year ago.

The Cupertino, California-based gadget-maker sold 18.65 million iPhones during the quarter, up 113 percent over a year ago.

Apple sold 4.69 million iPads during the quarter which ended on March 26, down from 7.33 million sold during the first quarter of its fiscal year.

Apple sold 3.76 million Macintosh computers during the quarter, up 28 percent from a year ago, and 9.02 million iPods, a 17 percent unit decline from a year ago.

"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," Apple chief executive Steve Jobs said in a statement.

"We will continue to innovate on all fronts throughout the remainder of the year," said Jobs, who went on medical leave in January with an undisclosed illness.

Apple chief financial officer Peter Oppenheimer said he expected revenue of around $23 billion and earnings per share of about $5.03 in the current quarter.

Apple shares gained 1.35 percent to $342.41 in after-hours trading.

earlier related report
Amazon to allow libraries to lend Kindle books
Washington (AFP) April 20, 2011 - Amazon said Wednesday that Kindle owners will be able to borrow books for the electronic book readers from more than 11,000 US public libraries later this year.

With Kindle Library Lending, Kindle books can be checked out from a local library for reading on any Kindle device or free Kindle applications for Apple, Android, Blackberry and Windows devices or personal computers and Macs.

"We're excited that millions of Kindle customers will be able to borrow Kindle books from their local libraries," Jay Marine, director of Amazon Kindle, said in a statement.

Using Whispersync technology, a reader's notes, annotations and bookmarks can be preserved.

"Normally, making margin notes in library books is a big no-no," Marine said. "But if you check out the book again, or subsequently buy it, your notes will be there just as you left them, perfectly Whispersynced.

"Your notes will not show up when the next patron checks out the book," he said.

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