Apple record earnings

ORDER RESTORED: On the heels of the ridiculously overblown iPhone 4 antenna flap, Apple yesterday reported a record $15.7 billion in quarterly sales, a 61% increase from the year-ago quarter, smashing Wall Street expectations by nearly $1 billion. Earnings were up 77% to $3.25 billion in net profit from $1.83 billion a year ago. The key to Apple’s performance was the iPad, which sold more than 3.27 million in its first quarter of availability, accounting for $2 billion-plus in sales. The company sold 8.4 million iPhones, 61% more than the previous year—and this was prior to the introduction of the iPhone 4, which Steve Jobs said last week was "Apple's most successful product launch in its history." Additionally, Apple set a Mac sales record with 3.47 million, and moved another 9.41 million iPods, off just 8% thanks to the growing popularity of the iPod touch. The company expects to hit $18 billion in sales next quarter behind the iPad and the iPhone 4. (7/21a)