Apples Q3 profits top $3bn

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Apple is reporting its net income for the past quarter came in at $3.25bn or 2.1bn.

For the three months ended June 26th, the firm's revenues rose to $15.7bn – far exceeding forecasts of $14.75bn, according to the BBC.

This success was largely attributed to the success of the iPhone 4 – despite recent controversy over the device's signal problems.

Total iPhones sales were up to 8.4 million, a 61 per cent improvement when compared to the same period last year. The iPad also managed to rack up 3.27 million sales in its first quarter on sales.

It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple's history with iPhone 4,” said Apple CEO Steve Jobs.

iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.”