Apple posts 50 percent jump in earnings, now a “$50+ billion company”

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Apple has beaten Wall Street expectations after posting its financial results for the fourth quarter of 2009. The Cupertino-based company posted a overall profit of $3.38 billion, or $3.74 per share – an increase of 50 percent from the same time last year. As well, its overall revenue was up – $15.68 billion from $11.88 billion from last year.

In its product lineup, Mac and iPhone sales increased, while sales of the iPod fell. Apple sold 3.36 million Macs, a 33 percent increase from last year’s quarter; while the iPhone saw a 100 percent increase from the same time last year, selling 8.7 million units. It sold 21 million iPods, a decline of eight percent.

“If you annualize our quarterly revenue, it’s surprising that Apple is now a $50+ billion company,” CEO Steve Jobs said in a statement. But Jobs has hinted on a “major new product that we’re really excited about” that is to be launched this week on January 27/28 (Melbourne). He has also hinted that there could be more product releases in the year.

Looking ahead of the first quarter of this year, Apple’s Chief Financial Officer Peter Oppenheimer said that they expect Apple could have $11-$11.4 billion in revenue and an earnings per share in the range of $2.06 and $2.18.