Apple Profit nearly doubles on iPhone

April 20, 2011, 7: 43 pm EDT by Adam Satariano

(Updates with comment from analyst, a fourth paragraph).

April 20 (Bloomberg)--Apple Inc. said profit almost doubled in the demand for Macs and iPhone, newly available from Verizon Wireless, outweighed lower forecast of sales of the iPad.Revenu Tablet net exercise, second quarter increased to 5.99 billion dollars, or $6.40 as one hand, Apple 3.07 billion, or $3.33, a year earlier, based in Cupertino, California, said today. Sales jumped 83 cent to 24.7 billion dollars. Analysts predicted profit of $5.39 a share on sales of $ 23.4 billion, is the average of estimates compiled by Bloomberg.Verizon Wireless has started to sell the iPhone in February, helping Apple to sell 18.7 million unitsthus exceeding the average of 16.3 million of 13 predictions in a Bloomberg survey. Apple said last month's earthquake in the Japan is not an effect of "material" on the results, allay concerns that the catastrophe would worsen an iPad supply shortage. "This will restore in the minds of investors that Apple is the story of magic tech growth", said Mark Moskowitz, JPMorgan Chase & Co. analyst ""They are really incredible."Apple increased by 3.2% in extended trade to go up to $353.39 after the publication of the results. The shares had earned $4.55 to $342.41 at 16 hours in the trade of the Nasdaq Stock Market. "We will continue to innovate on all fronts during the rest of the year,"Chief Executive Steve Jobs said in the statement. Jobs, who has been sick leave since January, is seen regularly at Apple and involved in decision making, said Tim Cook, who took leadership on a daily basis.IPad sales Miss PredictionsWhile sales more than doubled iPhone, passing to the fastest pace in two years, Apple has sold 4.69 million iPads, provided for less than $ 6.1 million units. Cook said that the company strives to overcome the difficulties of supply. "The iPad has the mother of all arrears,"Cook said on a conference call with analysts. Many stores exhausted after the device is on sale on March 11 Cook, said access to the components of Apple was not injured by the earthquake to the Japan and that it is not expected any physical effect of the disaster in the current quarter. Still, sales of products in the country may be lower as consumers, to face the temblor and resulting tsunami buy less gadgets, he said that $ 200 million.In the quarter underway, Apple forecast profit and sales below analysts forecasts. Profit this quarter will be $5.03 per share on sales of $ 23 billion, says Apple. Analysts predicted that Apple would profit of $5.25 per share on sales of $ 23.8 billion.Profit ForecastsApple reports generally profit which exceeds the forecasts of analysts and its forecasts are often conservative. Apple beat the average estimate for earnings per action of at least 28 quarters straight, according to data compiled by the margin of Bloomberg.Gross, the percentage of sales left after deduction of the costs of production, will be approximately 38% this quarterApple said at the Conference call. The gross margin was 41.4% last quarter, compared to 41.7% a year earlier, said Apple.Au second quarter, Apple sold computers Mac 3.76 million and 9.02 million iPod media players. Analysts had predicted sales of 3.6 million Macs and 9.8 million iPods.Apple is rid of increased competition for iPhone, best selling of the company product.Rivals including Samsung Electronics Co., Motorola mobility Holdings Inc. and HTC Corp. use operating system Android from Google Inc. in their devices. Will Android represent 39.5% of the global smartphone shipments this year, compared to 15.7% for Apple, according to IDC market research firm.Last week, Apple filed a lawsuit against Samsung IP, accusing the company of the copy of the iPhone and iPad. Samsung denied the charges.Apple is also largest customer of Samsung for components, a relationship which should not be disturbed by the prosecution against Samsung mobile unit, Cook said.

-With the help of Cory Johnson and Peter Burrows in San Francisco. Editors: Tom Giles, Jillian Ward.

To contact the reporter on this story: Adam Satariano in San Francisco at asatariano1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net.

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