Apple beats expectations, reports record revenue on strong Mac, iPhone sales
Apple Inc. reported record revenue for the quarter that ended June 26, noting strong sales of its Mac computer line and iPhones, and selling nearly 3.3 million iPads during the first period where the tablet computer was available.
"It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4," Apple Chief Executive Steve Jobs said in a statement. "iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year."
Apple's fiscal third-quarter revenue of $15.7 billion was up 61% from the same quarter a year earlier, beating the average expectation of analysts surveyed by Thomson Reuters, who'd put the number at $14.1 billion.
The company's earnings of $3.51 a share also beat the Wall Street estimate of $3.11. Apple's profit of $3.25 billion was a nearly 78% increase over last year's quarter.
Apple said it sold 3.47 million Macs during the quarter, a record for the quarter that surpassed the quantity from a year earlier by 33%. Apple sold 8.4 million iPhones in the quarter, a decrease from the previous two quarters that was expected during the run-up to the new iPhone, released just three days before the quarter ended. Apple sold 9.41 million iPods during the same period.
Apple shares soared $7.81, or 3.1%, in extended trading, after already rising $6.31, or 2.6%, to $251.89 in regular trading.
-- David Sarno