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Apple profits soar thanks to iPhone sales
The company reported that its net profit in the third quarter of 2011 amounted to 6620 million dollars. Apple, which lost its cofounder Steve Jobs, said he had a record quarter with revenues of 28,270 million dollars and sales of 11.12 million iPads. The profit figures did not reach the high expectations of Wall Street and the value of its shares fell nearly 5% to 401.28 per share in after-hours transactions. Apple announced on Oct. 5 death of its visionary co-founder Steve Jobs from cancer at age 56. Jobs revolutionized modern culture with inventions like the iPod, iPhone or iPhone. “We are deeply saddened to announce that Steve Jobs died today (Wednesday),” said the board of the company in a statement.
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