Mac sales push Apple profits up
APPLE stunned investors last night after posting better than expected third quarter results, bolstered by hearty Mac computer sales.
For the period ended 26 June, revenue climbed by 61 per cent to $15.7bn (£10.2bn), while net quarterly profit almost doubled on the same period last year and came to $3.25bn.
The California based group tied the strong results to record-breaking Mac sales, which rose 33 per cent to 3.47m. Apple has also sold 3.27m iPads since the April launch.
“It was a phenomenal quarter that exceeded our expectations,” said Steve Jobs, Apple’s chief executive, who hinted that a number of new products are to be released this year.
Meanwhile, 9.41m iPods were sold during the quarter and despite taking a hit with its latest iPhone model, Apple sold 8.4m copies of the smartphone.
Apple is expecting revenue to reach $18bn by the end of the next quarter.