Strong debuts for the iPad tablet computer and the new iPhone, powered gadget maker Apple to a record quarter which blew past the expectations of Wall Street analysts.
The Cupertino, California-based company said its net profit rose 78 per cent to $3.25 billion in the fiscal third quarter which ended on June 26.
Revenue increased to a record $15.7 billion from $9.73 billion a year ago, surpassing the $14.75 billion forecast by analysts.
Earnings per share of $3.51 were also well above the expected $3.11 per share.
“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,” Mr Jobs said.
Apple said it sold 3.27 million iPads during the quarter, raking in an additional $2.1 billion in revenue and nearly matching sales for Macintosh computers.
Apple, which only began selling the iPad in April, said it sold a record 3.47 million Macintosh computers in the quarter. It sold 8.4 million iPhones in the quarter, up 61 per cent over a year ago, including 1.7 million new iPhone 4s. The latest version of the smartphone went on sale in five countries on June 24 and Apple has been dogged by complaints about reception problems due to its unusual antenna design.
Apple announced last week it will offer free rubber-and-plastic cases designed to address the antenna issue to customers and Apple executives dismissed speculation that “Antennagate” had hurt sales.
“We are selling every unit we can make currently,” said Apple’s chief operating officer Tim Cook. Sales of iPod music players were down eight per cent in the quarter from a year ago to 9.41 million, Mr Cook said.
In a conference call with analysts, Apple chief financial officer Peter Oppenheimer said the company was “very pleased with sales of iPad and iPhone 4.”
“We’re working hard on catching up with customer demand for these great products and we look forward to rolling them out to even more customers in more countries this quarter,” he said.
“We are selling them as soon as we can make them,” added Apple’s Mr Cook. “We are working around the clock to have supply and demand in balance.
“It’s a good problem to have,” he said.
Oppenheimer said Macintosh sales of 3.47 million in the quarter exceeded the record set in the December quarter by over 100,000 and surpassed research group IDC’s estimate of 22 per cent growth for the PC market this quarter.
Mr Oppenheimer said that while iPod sales fell to 9.4 million from 10.2 million a year ago, sales of the more expensive iPod Touch had grown 48 per cent year on year, generating revenue growth of four per cent.