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Apple nearly doubles its profits in iPad-driven quarter

The debut of the latest iPad and continued strong sales for the iPhone and Mac helped Apple nearly double its profit for the fiscal second quarter.

On Tuesday, the company reported a net profit of $11.6 billion on revenue of $39.2 billion for the quarter ended March 31, 2012. Those are respective increases of 94 percent and 59 percent from the 2011 second quarter. Apple's profit translates to earnings of $12.30 per share, up from $6.40 a share last year; analysts were looking for earnings of $10.06 a share for the quarter.

Sales were fueled by the launch of the new iPad, which arrived on March 16. Apple sold 11.8 million tablets during the quarter, up from 151 percent in the year-ago period.

iPhone and Mac sales were also strong, setting records for Apple's March quarter. The company sold 35.1 million iPhones during the second quarter, an increase of 88 percent from last year. Mac sales rose 7 percent year-over-year to 4 million units sold during the quarter.

iPod sales continued their decline. Apple sold 7.7 million music players, a drop of 15 percent from the second quarter of 2011.

Apple is holding a conference call with Wall Street analysts to discuss the numbers in greater detail. We'll update this story with more information as it becomes available.


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