San Francisco, October 22: : Apple Inc reported a stronger-than-expected 26 per cent rise in quarterly profit, spurred by strong sales of its new iPhone, and its shares rose 13 per cent on Tuesday.
Apple posted a six-fold increase in iPhone shipments during the September quarter, the first since it released a faster, next-generation model. The company said it sold 6.89 million iPhones during the quarter, outpacing Blackberry-maker Research in Motion Ltd.
Chief Executive Steve Jobs called the iPhone's performance "remarkable" and said Apple is now the third-largest mobile phone supplier by revenue behind Nokia and Samsung Electronics.
Oppenheimer analyst Yair Reiner called the iPhone shipments a "pretty stunning number" and said the company's revenues do not fully reflect the strength of iPhone demand because Apple records sales from the phone over a two-year period.
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