Apple profits beat expectations again in third quarter

Apple has again reported expectations-beating results, announcing $4.3bn (£2.7bn) profits for the third quarter.

The net income figure - announced after the close of trading in New York - was up 70% on a year earlier, and beat expectations of $3.8bn.

Revenues rose 67% to $20.3bn, topping already high expectations by $1bn, thanks to strong iPhone sales.

But sales of its new tablet computer - the iPad - were somewhat underwhelming at just 4.2 million.

That represents a rise of just 28% on the previous quarter, which was when the company first launched the new product.

However, Apple can take solace that iPhone sales were not hit by bad publicity over antenna problems with the newly-launched iPhone 4.

The firm sold 14.1 million of its smart phones in the quarter.

Sales of its Macintosh computers were up 27% on a year ago, while those of its iPod were down 11% - partly because the latter has been superseded by the iPhone.

The company revised its revenues forecast for the current quarter up to $23bn.