Apple Harvests Record Profit

Holiday iPod sales surge defies Wall Street
By Peter Fearon,  Newser Staff
Posted Jan 22, 2009 3:26 AM CST
Apple Store customers play a sneak peek version of "SimCity" from Electronic Arts on an iPod touch.   (PRNewsFoto/Apple)
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(Newser) – A late surge in holiday iPod sales boosted Apple quarterly revenue and profits to a record high, reports the Los Angeles Times. Wall Street analysts had predicted a slump of up to 18% in Apple sales, but despite the recession, the company is reporting $1.61 billion in profits on increased revenue of $10.2 billion. Apple shares rose 6% to $82.83 in regular trading, then jumped another 10% after hours.