Apple on Tuesday posted a 26 percent gain in profit for the fourth-quarter, on the strength of the runaway sales of its iPhone device. The company posted a profit of $1.14 billion, compared with just over $900 million for the same period the year before.
According to the Associated Press, however, CEO Steve Jobs called for "prudent" expectations going forward, adding that the company may spend a downtown developing "the next lust-worthy gadget."
The earnings numbers beat Wall Street expectations, while sales of such non-iPhone products as computers and iPods fell below expectations. However, the iPhone 3G managed to outsell all versions of the Research in Motion's BlackBerry during the quarter.