Apple makes record profit as iPhone and iPad sales leap

Apple's latest profits soared past expectations as sales of its best-known iPhone and iPad products more than doubled. Net income was $7.31bn (�4.6bn) in the three months to 25 June, 125% higher than a year earlier and a record quarterly profit for the firm. Revenue was $28.6bn, also a quarterly record. Apple sold more than 20 million iPhones in the quarter and 9.25 million iPads. However, iPod sales continued to slip, down by 20% to 7.54 million units. The results assuaged concerns about the supply of the iPad 2, partly because of parts supply interruptions caused by Japan's tsunami and earthquake in March.