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Apple Profits Up 78 Per Cent, Smashing Estimates

Apple has reported a 78 per cent rise in year-on-year profits for the second quarter of 2010, despite the iPhone 4 antenna debacle.

The company, boosted by increasing sales of its iPad and iPhone devices, posted a revenue of £10.3 billion ($15.7 billion), an increase of 61 per cent on last year's results. Profits also rose by 78 per cent from last year, reaching £2.1 billion ($3.25 billion).

Following the release of the financial results, the company's share prices rose by 3 per cent in after-hours trading in new York.

Apple said it had sold 8.4 million iPhone units in total, an increase of 61 per cent in sales on last year. The company sold 1.7 million units of the troubled iPhone 4 in the last three days of the quarter alone.

The company also revealed that it had sold 3.3 million iPads in the first three months since the device's launch.

Apple announced that it had sold 3.47 million Macintosh computers, exceeding the 3.2 million predicted by Wall Street analysts, after sales jumped by 33 per cent due to an increase in business from schools and colleges.