Apple Earnings Top Expectations
The economy is in the tank, its iconic CEO is on a leave of absence, and the SEC is investigating whether it misled investors. But despite all that, Apple posted huge earnings numbers for the fourth quarter, exceeding most expectations.
According to the Associated Press, reported earnings of $1.61 billion for the fourth quarter, a 2 percent gain over the same period the year before. The gains were largely buoyed by record sales of iPods- largely outside the U.S.- and Mac sales that jumped 9 percent from last year.
The news sent Apple's stock surging 12 percent in after-hours trading.