Apple's Net Income Jumps Whopping 78 Percent

Tuesday, Jul 20, 2010  |  Updated 4:44 PM PDT
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Apple says its fiscal third-quarter net income rose 78 percent, thanks to sales of its iPhone and the new iPad tablet computer.

The numbers once again show that the best thing Apple really makes these days is money.

Apple Inc. said Tuesday it sold about 3.3 million iPads in April through June, the gadget's first three months on the market. IPhone unit sales rose 61 percent, with a boost at the end of the quarter from the launch of the iPhone 4.

 Apple's net income jumped to $3.25 billion, or $3.51 per share, from $1.8 billion, or $2.01 per share a year ago.

Revenue increased 61 percent to $15.7 billion, from $9.7 billion last year.

 That's better than Wall Street expected. Analysts surveyed by Thomson Reuters had forecast net income of $3.11 per share in the quarter on $14.7 billion in revenue.
 

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