Money | Apple Apple's Revenue Surges on Brisk iPad Sales But Steve Jobs news overshadows earnings report By Newser Editors and Wire Services Posted Jan 18, 2011 4:18 PM CST Copied In this photo taken April 3, 2010, a customer uses an Apple iPad in San Francisco. (AP Photo/Paul Sakuma, File) Apple said its net income for the most recent quarter rose 78% as holiday shoppers snapped up more iPads than analysts anticipated. The company sold more than 7 million iPads, about a million more than expected. It also sold more than 16 million iPhones in the quarter. The rosy news was, of course, overshadowed by news that CEO Steve Jobs will take a medical leave of absence. Jobs has survived a rare form of pancreatic cancer and had a liver transplant in 2009. Shares of Apple fell more than 2% in regular trading, before the release of results. The company's net income jumped to $6 billion, or $6.43 per share, up from $3.4 billion, or $3.67 per share. Revenue jumped 71% to $26.7 billion. Shares jumped $1.42 to $342.07 in extended trading after the release of results. In the regular session, shares fell $7.83 to close at $340.65. Read These Next Diane Ladd, who played the salty Flo, dies at 89. She was married at 12. At 25, she faces execution. Michael Skakel breaks silence on Martha Moxley murder. Now it's Democrats' turn to complain about a 60 Minutes edit. Report an error