However iPad sales fall short of expectations

Apple profits double in iPhone earnings surge

Apple’s second quarter earnings report revealed soaring profits far in advance of that expected by analysts.

The firm sold 18.65 million iPhones, ahead of the expected 16 million. The strong demand for Apple products gave rise to profits almost double that of a year ago.

Sales of the tablet category leading iPad were below expectations, selling 4.69 million units but the firm said that it sold every iPad that it could make. Component supply shortages are still expected to hamper iPad sales following the Japanese earthquake.

While Apple boss Steve Jobs is still on medical leave, he said in a statement: "With quarterly revenue growth of 83% and profit growth of 95% we’re firing on all cylinders."

The new results showed clear evidence of a shift away from Apple’s iPod music players towards the iPhone, with iPod sales down 17 per cent.

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