Apple net profit up 21% at $8.82 b

Apple net profit up 21% at $8.82 b

 Technology giant Apple Inc has posted a 21 per cent growth in net profit at US$8.82 billion in the three months ended June 30, 2012 driven by sales of iPhones and iPads.

The company had posted a net income of US$7.3 billion in the April-June quarter of 2011. The company’s net profit sharply declined on a quarter-on quarter basis, sending the shares lower as much as six per cent in post-trading on Nasdaq.

In the three months to March, Apple’s net profit stood at US$11.62 billion. Apple’s revenue rose to US$35 billion in the quarter under review, an increase of 22.3 per cent from US$28.6 billion that it reported in the same quarter last year. Although, revenues also fell on quarter-on quarter basis, as it was US$39.2 billion in the three months period ended in March, 2012.

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