iPhones, iPads lift Apple net income in first quarter

SEATTLE — Apple Inc. said Tuesday that its net income for the holiday quarter jumped 78 per cent as shoppers snapped up more iPads than analysts predicted.

SEATTLE — Apple Inc. said Tuesday that its net income for the holiday quarter jumped 78 per cent as shoppers snapped up more iPads than analysts predicted.

The results sent shares climbing in after-hours trading. Earlier, shares slipped more than two per cent as investors focused on news that CEO Steve Jobs will take another medical leave of absence. Jobs has survived a rare form of pancreatic cancer and had a liver transplant in 2009.

Net income for Apple’s fiscal first quarter rose to $6 billion, or $6.43 per share, up from $3.4 billion, or $3.67 per share, in the same period a year earlier.

Analysts surveyed by FactSet forecast $5.41 per share for the quarter, which ended Dec. 25.

Revenue climbed 71 per cent to $26.7 billion, more than the $24.3 billion analysts expected. It was $15.7 billion in the same quarter a year earlier.

Apple sold 7.3 million iPads during the quarter, about a million more than analysts were expecting. The iPad, a touch-screen tablet computer with no keyboard, first went on sale in April and was one of the hottest gifts over the holidays.

Apple sold 16.2 million iPhones, an 86 per cent increase from a year ago. Sales of Mac computers rose 23 per cent to 4.13 million laptops and desktops.

Apple sold 19.5 million iPods, a 7 per cent drop from a year earlier. However, people spent more on average on the devices — revenue from iPods edged up 1 per cent.

The Cupertino, California-based company said 62 per cent of its revenue came from outside the U.S. In the Asia-Pacific segment, which includes China, Apple said revenue almost tripled. Apple said its four stores in China had, on average, highest traffic and highest revenue out of its 321 worldwide stores

Shares jumped $6.44, or 1.9 per cent, to $347.57 in extended trading after the release of results. In the regular session, shares fell $7.83 to close at $340.65.