CUPERTINO, Calif. (AP) — Apple Inc. said Monday that net income for the most recent quarter soared 70 percent on strong sales of iPhones.
Apple sold 14.1 million iPhones from July through September, more than the 12 million or so analysts were looking for.
Apple Chief Financial Officer Peter Oppenheimer said in an interview that had the company been able to make more iPhones, that number would have been even higher.
It sold 4.2 million of its tablet computer, the iPad, fewer than the approximately 5 million that analysts, on average, had expected. Oppenheimer said the company was able to increase production of the iPad toward the end of the quarter.
Apple's net income rose to $4.3 billion, or $4.64 per share, from $2.5 billion, or $2.77 per share, in the same period last year.
Revenue jumped 67 percent to $20.3 billion from $12.2 billion last year.
Both revenue and net income were record amounts for Apple. The company also did significantly better than Wall Street analysts expected. Analysts polled by Thomson Reuters expect Apple to earn $4.08 per share on $18.9 billion in revenue.
"When you're shipping the best products ever, these are the results you expect to see," Oppenheimer said.