Ricardo's Business

SBS Presenter Ricardo Goncalves with the latest in finance.

RICARDO'S BUSINESS || When $6.6bn isn't enough

19 October 2011, 18:08 PM | Source: Ricardo Goncalves, SBS

Apple has recorded a 54 per cent increase in quarterly profit to $6.6billion, on the back of a 39 per cent increase in revenue.

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But investors sold off the stock, preferring to concentrate on a 16 per cent decline in iPhone sales.

Shares of the company declined 7 per cent in after hours trade in New York overnight.

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