Apple beats expectations for busy holiday quarter

21.01.2009

But iPhone sales continue to grow rapidly. Apple sold 4.4 million of the devices, representing 88 percent growth over the same quarter in 2008.

Apple said it expects continued success despite the ailing economy. For its second quarter of fiscal 2009, Apple expects revenue between $7.6 billion and $8 billion and earnings per share of $.90 to $1.00.

A week ago Jobs disclosed in a letter to employees that health issues required him to take a leave of absence until the end of June. The announcement came a little over a week after he revealed that his gaunt appearance lately, which has been the subject of much speculation, had been caused by a hormone imbalance.

When announcing his leave, Jobs declined to reveal further details about his condition except to say that it was more complex than he originally thought. The setback follows surgery he underwent in 2004 for pancreatic cancer.

Apple's share price tends to rise and fall based on rumors regarding Jobs' health. While many companies have charismatic leaders, Jobs is thought to control even minor decisions at Apple, the company he co-founded in the 1970s and brought back to life after returning to it in the mid-1990s.