Record Mac sales give Apple stellar quarter

Apple has reported record Mac sales and one of its best third quarters ever.

For the company's third fiscal quarter, which ended June 28, Apple reported $7.46bn in revenue and net profit of $1.07bn, equal to $1.19 per share. That far exceeds the company's own guidance for the quarter and also beats Wall Street's expectations of $7.37bn and $1.08 per share.

Mac sales were about in line with expectations, at 2.5 million units shipped during the quarter, and iPod shipments were actually a little higher than expected, at 11 million units. Mac shipments grew 41 per cent, while iPod shipments grew 12 per cent.

Apple's guidance for the upcoming quarter, however, was well below Wall Street forecasts. The company said to expect $7.8bn in revenue and earnings per share of $1, while analysts were looking for $8.3bn in revenue and $1.24 in profits per share.

iPhone sales were 717,000 during the quarter, which was in line with expectations. iPhone sales were much lower due to the supply issues Apple ran into around the middle of May, but things have certainly picked up since then, with one million iPhone 3Gs out there already and lines and shortages awaiting those who want one now.

Original article: Mac shipments set an Apple record from CNET News.com