iPad, iPhone boost Apple's Q3 profits

Company will be pushing out iCloud, iOS 5 in "fall," Jobs says

Apple reported solid earnings for its fiscal third quarter, with strong iPad and iPhone shipments boosting profit and revenue, the company said Tuesday.

Apple sold 9.25 million iPads in the quarter, a 183 percent increase from the same quarter last year. It sold 20.34 million iPhones, a 142 percent increase. IPod sales were down 20 percent to 7.54 million units, however.

The iPad 2 went on sale in March to big lines in the U.S., and while initial stocks dried up quickly, demand remained strong.

Apple's profit for the quarter, ended June 25, was US$7.31 billion, up from $3.25 billion a year earlier. Revenue was $28.57 billion, up from $15.7 billion. Analysts polled by Thomson Reuters expected revenue of $25 billion.

At the Worldwide Developers Conference last month, Apple introduced its next mobile OS, iOS 5, and the iCloud syncing and hosting service for music, photos and other data.

"Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall," CEO Steve Jobs said in a statement.

Apple also sold 3.95 million Macs in the third quarter, a 14 percent increase from last year, it said.

The company expects revenue of about $25 billion for the fourth fiscal quarter of 2011.

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Tags business issuesApplefinancial results

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Agam Shah

IDG News Service
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