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Apple's Q3 results show strong year-on-year growth, even if they didn't meet analysts' expectations.

Apple has turned in a creditable third-quarter result, and even if it didn't break any financial records it did manage a sales record.

For the quarter ending June 30, the company reported $35.0 billion revenue and a net profit of $8.8 billion. These numbers were a substantial increase on the year-ago figures of $28.6 billion and $7.3 billion.

Even though Apple had forecast lower numbers, financial analysts were expecting revenue to be about $37 billion, with earnings per share around $10.23 rather than the $7.79 actually achieved.

The crazy thing about financial markets is that they try to find reasons why a company 'misses expectations' rather than reasons why their forecasts were wrong.

Unit sales were strong, at least for mobile devices.

26.0 million iPhones (up 28% year on year) and a record 17.0 million iPads (up 84%) were sold, although iPod sales continue to decline (by 10% year-on-year to 6.8 million) as the growing number of iPhones and other smartphones being sold cuts further into potential sales.

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Stephen Withers

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Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences, a PhD in Industrial and Business Studies, and is a senior member of the Australian Computer Society.

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