NEW YORK (CNNMoney.com) -- Apple Inc. reported another strong quarter Monday on the back of its current product lineup, including iPhones and Macintosh computers, as the company gears up for its widely anticipated announcement of a new tablet computer on Wednesday.
The Cupertino, Calif.-based company said net income for the quarter ended Dec. 31 surged 50% from a year earlier to $3.4 billion, or $3.67 per share. Analysts polled by Thomson Reuters had expected earnings of $2.08 per share.
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Apple's sales rose 32% to a record $15.7 billion, easily sweeping past analysts' forecasts of $12.1 billion. That marks the second-straight quarter in which Apple posted record revenue.
"If you annualize our quarterly revenue, it's surprising that Apple is now a $50+ billion company," said Apple Chief Executive Steve Jobs in a statement. "The new products we are planning to release this year are very strong, starting this week with a major new product that we're really excited about."
A 100% year-over-year rise in iPhone sales and a 33% increase in Mac sales helped drive results. Shares of Apple (AAPL, Fortune 500) rose 1% after hours.