Apple posts 78% rise in Q3 profit

APPLE posted a 78% surge in third-quarter profit as customers began flocking to the new iPad tablet computer and latest version of the iPhone.

Net income rose to $3.25 billion (€2.52bn), or $3.51 a share, from $1.83bn, or $2.01 a share, a year earlier, the Cupertino, California-based company said yesterday in a statement.

Analysts surveyed by Bloomberg were expecting, on average, per-share profit of $3.11. Sales in the three months ended June 26 gained 61% to $15.7bn, topping analysts’ $14.7bn average estimate. Apple gained in extended trading.