Thursday, Dec 08, 2016
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Apple posts $6B profit, up 95%, for 2nd quarter

NEW YORK — Apple Inc. is already the envy of the technology world. Wednesday it reported quarterly results that it said had only one blemish: It couldn’t make the new iPads fast enough.

Apple said profit for its fiscal second quarter, which ended March 26, was $6 billion, up 95 percent from $3.1 billion for the period a year ago. Its revenue for the quarter was $24.7 billion, up 83 percent from $13.5 billion a year ago.

It sold 4.7 million iPads of both kinds in its latest quarter, below analyst expectations and the holiday quarter’s sales. But the company said it sold every unit it made and it is working on ramping up production.

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