Apple profits top $3bn for third quarter

The company reported net income for the three months to 26 June of $3.25bn (£2.1bn), or $3.51 a share, up from $1.83bn for the quarter last year. Analysts were expecting earnings of about $3.11 a share. The news sent Apple shares up 3.4% in after-hours trading, and go some way to relieve investors’ concerns about the quality of the iPhone 4. Apple’s revenues rose to $15.7bn, well ahead of analysts’ forecasts of about $14.75bn.
[Read more...]