Some analysts are suggesting the recession is over, but for Apple (NASDAQ: AAPL), the recession might as well have never started. The company on Monday reported record quarterly revenues and profits as it enjoyed strong sales in Macs and iPhones.
Apple announced fiscal fourth-quarter GAAP income of $1.67 billion, or $1.82 a share, on revenue of $9.87 billion for the quarter ended Sept. 26, easily surpassing estimates of analysts surveyed by Thomson Reuters, who had forecast the company to earn $1.42 a share on revenue of $9.2 billion.
Apple is also one of the few companies that has continued to enjoy top-line growth during the financial downturn while increasing profitability. The company earned $1.14 billion, or $1.26 a share, on $7.9 billion in sales in the same quarter last year, representing 46 percent growth in earnings year-over-year and a 25 percent increase in revenue.
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