For the second straight quarter, Apple has blown away analyst forecasts to post record revenues. Net income in Q4 2009 compared to the same quarter in 2008 jumped 50% to a record $3.4 billion.
Apple's overall sales are up 32% to a record $15.7 billion. Analysts had predicted the company would make $12.1 billion in sales. New accounting laws made it possible for Apple to report iPhone and Apple TV revenues immediately instead of having to spread them out over the length of a consumer's contract.