Apple's Sales Impress Again

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Late yesterday Apple revealed its last quarterly sales, and they were again impressive enough to beat Wall Street's expectations. Delivering $39.2 billion in revenues, up nearly 59% on last year's figure of $24.7 billion, the firm also saw its net profits rise by 94% to $11.6 billion. That was on bigger-than-expected sales of iPhones, with 35.1 million units sold, and 11.8 million iPads--up 151% on last year's figure. Apple Stores delivered $4.4 billion of Apple's sales, and the company now has around $110 billion in cash in the bank--ready to deliver on Tim Cook's recent promise of share dividends and buybacks.

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