Apple Nearly Doubles Net Profit, iPad Sales Dip

Apple nearly doubled its quarterly net profit on strong demand for the iPhone as sales of its iPad tablet computer dipped sharply.

Apple said Wednesday that net profit rose 95 percent in the second quarter of its fiscal year to $5.99 billion while revenue rose 83 percent to $24.67 billion, beating the expectations of Wall Streets analysts.

Earnings per share were $6.40 in the second quarter, up from $3.30 a year ago.

The Cupertino, California-based gadget-maker sold 18.65 million iPhones during the quarter, up 113 percent over a year ago.

Apple sold 4.69 million iPads during the quarter which ended on March 26, down from 7.33 million sold during the first quarter of its fiscal year.

Apple sold 3.76 million Macintosh computers during the quarter, up 28 percent from a year ago, and 9.02 million iPods, a 17 percent unit decline from a year ago.

"With quarterly revenue growth of 83 percent and profit growth of 95 percent, we're firing on all cylinders," Apple chief executive Steve Jobs said in a statement.

"We will continue to innovate on all fronts throughout the remainder of the year," said Jobs, who went on medical leave in January with an undisclosed illness.

Apple chief financial officer Peter Oppenheimer said he expected revenue of around $23 billion and earnings per share of about $5.03 in the current quarter.

Apple shares gained 1.35 percent to $342.41 in after-hours trading.