Cupertino, Calif. -- Apple is reporting revenues of $15.7 billion and a profit of $3.25 billion in its fiscal third quarter ended June 30.
Apple said his sharply higher earnings and revenue is based on record Mac sales and 61 percent growth in iPhone sales during the quarter.
These results compare to revenue of $9.73 billion and net quarterly profit of $1.83 billion in the year-ago quarter. International sales accounted for 52 percent of the quarter's revenue.
Apple said it sold 3.47 million Macs during the quarter, representing a new quarterly record and a 33 percent unit increase over the year-ago quarter.
Apple reported it sold 8.4 million iPhones in the quarter, representing 61 percent unit growth over the year-ago quarter. Apple sold 9.41 million iPods during the quarter, representing an 8 percent unit decline from the year-ago quarter. The company began selling iPads during the quarter, with total sales of 3.27 million.
In a prepared statement Steve Jobs, CEO, said, "It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4. 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."
The financial was released the same day that iSuppli said that Apple is ratcheting up its iPad production targets to meet booming demand and predicts Apple will ship 12.9 million iPads in 2010, an increase from the previous forecast, issued April 2, of 7.1 million units. Shipments will rise to 36.5 million in 2011 and 50.4 million in 2012, as presented in the attached figure.
"The iPad is shaping up to be the ‘Tickle Me Elmo' of the 2010 holiday season, with product demand expected to vastly exceed available supply," said Rhoda Alexander, director of monitor research for iSuppli.
The research company predicts Apple "undoubtedly will refresh the iPad's features in April 2011. Likely additional changes will embrace an internal camera and expansion of the product line, potentially including additional screen sizes."
Nonetheless, with nearly 84 percent share in 2010, Apple's iPad virtually owns the market, and the device is expected to dominate at least through 2012.
iSuppli reports Asus and Acer are expected to release consumption tablets in the fourth quarter of 2010 -- joining the likes of Dell, JooJoo and Germany's WePad, with HP and others to follow in 2011.
And more competition is coming. Earlier today Sharp said in Japan it would enter the e-reader market XMDF, a next-generation e-book format with advanced features that allow users to view video and audio content, in addition to current features such as texts and still images. With next-generation XMDF as a core technology, Sharp said "within this year provide digital platform to promote e-book distribution service and launch compatible reader devices to enter the e-book market."