Apple’s Monster Quarter (All Things D)

On Tuesday, Apple released record-breaking first-quarter earnings, posting a profit of $13.06 billion on revenue of $46 billion. Earnings per share were $13.87, far more than the $10.08 per share analysts had been expecting. Driving this profit were record sales for the iPhone (up more than 128 percent from the year prior, with 37.04 million units sold) and iPad (up 111 percent from the previous year, with 15.43 million sold). Other highlights from the company’s earnings call: iPod still claims more than a 70% share of the MP3 market; iCloud has been a huge success, drawing 80 million subscribers in the first three months; and Apple currently holds $97 billion in cash, but is keeping mum about plans to spend it, though the company did note that “We are actively discussing uses of our cash balance. But we have nothing to announce at this time. … We’re not letting it burn a hole in our pocket.”