Apple powers on to strong Q3

Apple has announced its latest quarterly financial results, outperforming analyst forecasts thanks to strong sales of iPhone and iPad.

The company’s fiscal Q3 revenues were $28.6 billion, up from $15.7 billion in the same quarter a year ago. Apple’s net profit for its latest quarter was $7.3 billion, up from $3.3 billion a year ago.The company sold 20.4 million iPhones in the quarter and 9.3 million iPads, up 142% and 183% respectively year-on-year.

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

In the company’s analyst call following the announcement, COO Tim Cook said that Apple sold more than 33 million iOS devices in its fiscal Q3, taking its total so far to 220 million. That means that the company is currently selling around 11 million iOS devices a month – a daily rate of 366,000 units compared to 550,000 daily Android device activations.

During the call, Cook also referred to a ‘product transition’ in its next financial quarter, spurring more rumours that Apple will launch a new iPhone and/or iPad model in September.

Story originally published on ME