Apple posts major gains in 3rd quarter

CUPERTINO, Calif., Oct. 19 (UPI) -- Apple Inc. reported Monday iPhone and Macintosh computer sales pushed its net income to $1.67 billion, or $1.82 a share, in the quarter that ended Sept. 26.

The company has reported income of $1.14 billion, or $1.26 a share, in the same quarter in 2008. Revenue rose to $9.87 billion, from $7.9 billion last year.

The figures easily topped analysts' expectations, The New York Times said. The company, based in Cupertino, Calif., had been projected to announce revenue of $9.2 billion and net income of $1.42 a share.

Apple said it sold 3.05 million Macs in the quarter, an increase of about 17 percent over the 2.6 million sales it reported during the same quarter in 2008.

Apple said it sold 7.4 million of its iPhone 3GS in the quarter, up from 6.9 million units sold a year ago, and well over the 7 million Wall Street had estimated, the Times said.

The newspaper said the company has not been able to maintain a steady supply of the phone, suggesting demand is even higher.

Apple Chief Executive Officer Steve Jobs said in a statement the company has "a very strong lineup for the holiday season and some really great new products in the pipeline for 2010."