Apple on Tuesday beat back concerns that cash-strapped consumers weren’t still enamored with its premium-priced products.

The Cupertino, California, company on Tuesday reported net income of $1.14 billion, or $1.26 per share, on revenue of $7.9 billion that included strong sales of iPods, Macs, and iPhones. 

The company sold nearly 7 million iPhones, ahead of most analyst forecasts.

"I think we’re very committed to making the iPhone a great value—next year and beyond," CEO Steve Jobs told analysts on a conference call. 

Financial analysts were forecasting Apple to report net income of $1 billion, or $1.12 per share, on sales of $8 billion. The company earned $904 million, or $1.01 per share, on sales of $6.22 billion for the same period a year ago.

Apple CFO Peter Oppenheimer gave first-quarter revenue guidance of $9 billion to $10 billion and earnings per share ranging $1.06 to $1.35.

Investors pushed Apple shares upward $12.52, or 13.7 percent, to $104 in after-hours trading.  

Apple followed up its first week of strong iPhone 3G sales, selling 6.9 million for the quarter. The company sold 2.6 million Macs, 21 percent more than a year ago. The Mac maker sold 11 million iPods in the quarter, 8 percent more than a year ago.