Mac, iPod sales boost Apple profits

Apple reported profits of $1.07 billion in the quarter, up 31 percent from $818 million from the past year. ┬á This amounts to $1.19 per share, 11 cents better than Wall StreetÔÇÖs expectations, according to a survey of analysts.┬á Revenue rose 38 percent to $7.46 billion compared with the same period a year ago, ahead of analystsÔÇÖ estimates for $7.37 billion in sales. ┬á The company shipped a record 2.5 million Macs during the period, an increase of 41 percent from last year, with desktop shipments growing faster than laptops. Shipments of its iPod music player rose 12 percent. ┬á Chief financial officer Peter Oppenheimer said that even as the economy slowed, US sales increased faster than total revenue. ┬á ÔÇ£WeÔÇÖre proud to report the best June quarter for both revenue and earnings in AppleÔÇÖs history,ÔÇØ Apple chief executive Steve Jobs said in a statement. ┬á ÔÇ£We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and weÔÇÖre busy finishing several more wonderful new products to launch in the coming months.ÔÇØ ┬á Characteristically, Apple issued a conservative outlook for the fourth quarter, forecasting $1 per share on $7.8 billion in sales, well below industry expectations.