tech:

taffy

Apple Doubles Quarterly Profit, And Then Some

[Techtaffy Newsdesk]

Apple announced financial results for its fiscal 2012 first quarter which spanned 14 weeks and ended December 31, 2011. The Company posted quarterly revenue of $46.33 billion and quarterly net profit of $13.06 billion, or $13.87 per diluted share. These results compare to revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, in the year-ago quarter. Gross margin was 44.7 per cent compared to 38.5 per cent in the year-ago quarter. International sales accounted for 58 per cent of the quarter’s revenue.

Apple sold 37.04 million iPhones in the quarter, representing 128 per cent unit growth over the year-ago quarter. Apple sold 15.43 million iPads during the quarter, a 111 per cent unit increase over the year-ago quarter. The company sold 5.2 million Macs during the quarter, a 26 per cent unit increase over the year-ago quarter. Apple sold 15.4 million iPods, a 21 per cent unit decline from the year-ago quarter.

Tim Cook (CEO, Apple): Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.

Apple generated over $17.5 billion in cash flow from operations during the December quarter. Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, Apple expects revenues of about $32.5 billion, and diluted earnings per share of about $8.50.

You can find Apple’s earning statement here.

Just in

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.