Apple’s net income up 80%, but concerns over Jobs

Darren Allan

January 19, 2011

Apple has had a very merry Christmas, with punters snapping up more iPads than analysts forecasted. Indeed, the iPhone 4 hasn’t done badly for itself, either.

Bloomberg Businessweek reports that the firm’s latest earnings call shows that Apple is up 78% in terms of net income, from $3.4 billion to $6 billion. Revenue was up to almost $27 billion.

Apple reckons it flogged 7 million iPads in the last quarter, and some 16 million iPhones, a more than impressive tally. In total, Apple shifted almost 15 million iPads in 2010, which averages out at 5 million per quarter, far more than any analyst anticipated before launch.

Yet shares still slipped slightly on the news that CEO Steve Jobs is headed off on a medical leave of absence again.

The worry for investors is that no reason has been given for the leave, and indeed no date when Jobs is expected to return. The Apple CEO is seen as such a vital piece of the company’s success that stocks have dropped even with these splendid income figures.


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