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Apple Crushes Profit Estimates as iPhone, iPod Sales Soar
CNBC.com | January 24, 2012 | 06:10 PM EST

Applecrushed earnings estimates as sales of iPhones and iPods soared. The company also projected earnings for the current quarter that were higher than analyst projections.

The technology giant delivered fiscal first-quarter earnings excluding items of $13.87 a share, double the $6.43 a share recorded in the year-earlier period.

Revenue jumped 73 percent to $46.3 billion from $26.74 billion a year ago.

Analysts had expected the company to report earnings excluding items of $10.10 per share on revenue of $38.9 billion, according to a consensus estimate from Thomson Reuters.

The company said it sold 37 million iPhones, 15.4 million iPads and 5.2 million Macs during the quarter — all new records and all beating analysts' expectations.

“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Tim Cook, Apple’s CEO. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”

The company also said it ended the quarter with $97.6 billion in cash.

In a conference call following the report, Apple CFO Peter Oppenheimer said, "We are actively discussing uses of the cash balance but have nothing to announce."

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