Apple Profit Rises to $7.7 Billion

Apple on Tuesday posted a third quarter profit of $7.7 billion, based on $37.4 billion in revenue. The profit was an improvement over the $6.9 billion figure the same period last year.

According to AP, the results were above analyst expectations. The company sold 35.2 million iPhones.

“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” Tim Cook, Apple’s CEO, said as part of the announcement.

“We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”

The next quarter will likely see the introduction of Apple’s newest iPhone, with the possibility of other products as well.

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