iPhone 4S

Apple says it sold 37 million iPhones in the last quarter, as holiday gift buyers gobbled up the new version of the smartphone. Apple says the sales of the iPhone were up 128 percent from the same quarter a year ago.

The sales figures were part of Apple’s earnings report released Tuesday afternoon, marking Apple's continued success in the first quarter since CEO Steve Jobs died.

Apple said it saw record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, or $13.87 per diluted share. Apple blew away expectations with a 73 percent increase in revenue and a 118 percent increase in profits.

Apple's quarterly revenue was more than double Microsoft's revenue from the same quarter.

Apple also said it sold 15.43 million iPads during the quarter, a 111 percent increase. The company sold 5.2 million Macs during the quarter, a 26 percent increase.

But sales were down for iPods. Apple sold 15.4 million iPods, a 21 percent decline from a year ago.

Here is coverge by CBSNews.com and coverage by The New York Times.

On Jan. 19, Microsoft reported quarterly revenue of $20.89 billion, a 5 percent increase from a year ago. But its crucial Windows Division saw more revenue declines.

The iPhone 4S was expected to be the star in Apple Inc.'s profit report Tuesday for its fiscal first quarter.

Analysts were projecting a 57 percent year-to-year jump in earnings per share to $10.07 on a 45 percent increase in revenue to $38.76 billion. In the previous quarter, Apple fell short of analyst expectations on revenue because of delays in introducing the new iPhone, which didn't happen until October.