Apple Earnings Up on iPhone 3G Success

Apple on Tuesday announced its latest quarterly results, with the company earning $1.14 billion on revenues of $7.9 billion. While sales of Apple's Mac computers and iPod devices remained strong, the standout this time was the iPhone 3G smart phone, which began shipping in July. Apple says it sold 6.9 million iPhones in the quarter, more than the previous five quarters combined.

"Apple just reported one of the best quarters in its history, with a spectacular performance by the iPhone," said Apple CEO Steve Jobs. "We don't yet know how this economic downturn will affect Apple. But we're armed with the strongest product line in our history, the most talented employees and the best customers in our industry."

Apple claims the iPhone outsold RIM's Blackberry for the first time in quarter, good enough for the number two spot in the smart phone industry. (It's unclear if this claim is limited to the US only or reflects worldwide sales; Apple tends to speak in generalities while using data from its best-selling markets only.) The company also noted that it has already surpassed its goal of selling 10 million iPhones in calendar year 2008.

Apple's other products perform well if not spectacularly. The company sold 2.6 million Mac computers in the quarter, up from 2.1 million in the same quarter a year ago. And it sold 11 million iPods, about even with the previous year.

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