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Showing Original Post only (View all)Apple's revenue surges, blows away targets [View all]
SAN FRANCISCO (Reuters) - Apple Inc's quarterly results blew past Wall Street's expectations as U.S. consumers snapped up near-record numbers of iPhones and iPads, sending its shares up 8 percent.
The world's most valuable technology corporation returned to form after a rare miss in the previous quarter. It sold 37.04 million iPhones - its flagship product - and 15.43 million iPad tablets, doubling from a year earlier and easily outpacing already heightened expectations for a strong holiday season.
And it smashed estimates on all its results including gross margin, which came in at 44.7 percent during the quarter.
Apple's sales in the United States were particularly strong, with revenue rising 90 percent in the Americas region. Sales in Europe were up 55 percent even though the region was in the grip of a debt crisis that has hurt consumer confidence.
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