Apple posts record quarterly revenue

08:38, July 21, 2010      

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Apple Inc. on Tuesday posted record revenue in its most recent quarter, reflecting strong demands for the company's products such as iPad and iPhone.

During the three months ended on June 26, Apple's revenue surged to 15.7 billion U.S. dollars, compared with 9.73 billion dollars in the year-ago quarter.

Apple's net income reached 3.25 billion dollars in its fiscal third quarter, an increase of nearly 78 percent year-on-year.

Earnings per share for Apple was 3.51 dollars, compared with 2. 01 dollars per share a year earlier.

The results easily beat estimates. Analysts surveyed by Bloomberg had expected profit of 3.11 dollars per share on revenue of 14.7 billion dollars.

The recently launched iPad has become a new boost for Apple. The company said it sold 3.27 million units of iPad in the quarter since the tablet computer first went on sale on April 3.

A total of 8.4 million iPhones were sold, representing a 61- percent unit growth over the year-ago quarter.

Apple launched iPhone 4 on June 24 and the company earlier announced that it sold 1.7 million units of the latest model in first three days through June 26 when the fiscal third quarter ended, calling the new smartphone "the most successful product launch" in its history.

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