Apple Posts Record Profits as iPhone Sales Surge

Mobile devices continue their surge and Apple's vision of the rapid emergence of the mobile environment for computing is paying off. iPhone sales doubled to nearly 7 million units in Q2 - largely from internal sales improvements. Mac sales also improved. As the WSJ noted Apple's Earnings Call Reporting a "Staggering" jump in iPhone sales. Here's an excerpt:

The results were well above Wall Street expectations; analysts had expected a rise of about 37%, compared with earnings a year ago adjusted for an accounting change.

“We’re thrilled to report our best non-holiday quarter ever,” said Chief Executive Steve Jobs in the company’s release.

On its earnings call, expect Apple to give more details on sales of iPhones and Macs, as well as its newest product, the iPad, which launched this spring. Apple Analysts also will be looking for information on Apple’s guidance for the next quarter. Apple said it expects fiscal third-quarter earnings of $2.28 to $2.39 a share on revenue of $13 billion to $13.4 billion, but the company is typically conservative in its forecasts.

Here is the recording of the 2010 Q2 earnings report. Watch the video overview from WSJ below.