Apple makes record profit as iPhone and iPad sales leap

Apple’s latest profits soared past expectations as sales of its best-known iPhone and iPad products more than doubled.

The company’s net income was $7.31bn (£4.6bn) in the third quarter, 125% higher than for the same period a year ago.

Apple sold more than 20 million iPhones in the quarter and 9.25 million iPads.Apple iPhone - iPad

Mac computers sold 3.95 million, although iPod sales continued to slip, down by 20% to 7.54 million units.

The results assuaged concerns about the supply of the iPad 2, partly because of parts supply interruptions caused by Japan’s tsunami and earthquake in March.


Apple chief financial officer, Peter Oppenheimer, said: “We are extremely pleased with our performance.

“Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25bn.”

Mr Oppenheimer also said that Lion, the new version of the Mac OS X operating system, will go on sale Wednesday.

The Lion software mimics some of the features of the iPhone and iPad interface.

The company has a reputation for being conservative with its forecasts.

Shares jumped 5.3% in extended after-hours trading to their highest for a year.

Read more…

Posted in BBC Reports

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