Another Apple milestone
Apple Inc. posted a 70% surge in quarterly earnings, again eclipsing the profit reported by International Business Machines Corp., in the latest sign that CEO Steve Jobs's gamble on consumer gadgets is paying off.
The maker of iPhones and Macintosh computers reported a profit of $4.31 billion in the September quarter, while IBM had earnings in the same period of $3.59 billion, up 12% from a year ago.
Apple's quarterly revenues also closed in on IBM's. Apple generated $20.3 billion, up 67% from a year ago, though sales of its iPad tablet were lower than some analysts had expected. IBM's revenues were $24.3 billion, up 3% from a year earlier.