iPad, iPhone Growth Drives Apple's Fiscal Q3

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Cupertino, Calif. - Apple reported triple-digit growth in iPads and iPhones in record fiscal third-quarter results.

Apple posted record quarterly revenue of  $28.57 billion and record quarterly net profit of $7.31 billion for the quarter, ended June 25. These results compare with revenue of $15.7 billion and net quarterly profit of $3.25 billion in the year-ago quarter.

Gross margin was 41.7 percent, compared with 39.1 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter's revenue.

Apple sold 20.34 million iPhones in the quarter, representing 142 percent unit growth over the year-ago quarter. It sold 9.25 million iPads during the quarter, a 183 percent unit increase over the year-ago quarter.

Mac unit sales were 3.95 million during the quarter, a 14 percent unit increase over the year-ago quarter. Apple sold 7.54 million iPods, a 20 percent unit decline from the year-ago quarter.

"We're thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent," said Steve Jobs, Apple's CEO, in a prepared statement. "Right now, we're very focused and excited about bringing iOS 5 and iCloud to our users this fall."

Peter Oppenheimer, Apple's chief financial officer, commented, "Looking ahead to the fourth fiscal quarter of 2011, we expect revenue of about $25 billion and we expect diluted earnings per share of about $5.50."


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