Summary Box: Apple 4Q net income up 70 pct

AP News
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Posted: Oct 18, 2010 8:28 PM
Summary Box: Apple 4Q net income up 70 pct

THE NUMBERS: Apple's net income rose 70 percent to $4.3 billion, or $4.64 per share. Revenue jumped 67 percent to $20.3 billion. Results beat Wall Street expectations.

THE FACTORS: Apple sold 14.1 million iPhones and 4.2 million iPads in the quarter. The iPhone numbers beat expectations, but the iPad fell short.

HIGHER EXPECTATIONS: Apple's gross margin _ a measure of its profitability _ was better than its own guidance. It still wasn't as high as what Wall Street expected.