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Apple shares climb due to positive earnings report

Apple shares rose more than 6% Thursday as investors reacted positively to the company posting a 27% rise in earnings due to higher sales of its iPod digital media players and signature Macintosh computers, reports MarketWatch. However, Apple also said the upbeat results stood a chance of being restated amid the effects of the company’s investigation into stock-option backdating. Apple rose US$4.80 to $78.33 after reporting on Wednesday a profit of $546 million, or 62 cents a share, up from $430 million, or 50 cents, a year ago. Revenue rose 32% to $4.84 billion from $3.68 billion in the year-ago quarter.

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