Apple earnings surge to record 73%

Apple's fiscal third-quarter profit soared more than 73%, fueled by demand for its Macintosh computers, the strength of its iPod media players and the sales of 270,000 iPhones in the first two days on the market, an Associated Press report said.

The Associated Press report said Apple shares jumped more than 6% in extended-session trading, even as the company issued a conservative outlook that fell short of Wall Street's expectations.

For the quarter ended June 30, Apple's profit rose to $818 million up from $472 million in the year-ago quarter, the report said.

Sales grew to $5.41 billion from $4.37 billion last year, the report said.

The gadget maker's highly anticipated iPhone launched on June 29 and sold out within days. Wall Street analysts and investors have had lofty expectations for the multimedia cell phone, driving up Apple's stock more than 30% during the quarter, the report said.

Apple's silence on how many iPhones were available at launch added to the frenzy and analysts were hoping to gain some insight on the iPhone's initial sales impact and outlook when the Cupertino-based company was to discuss its quarterly earnings during a conference, the report further said.

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