Apple's quarterly results are in, records sales and profits (again)

Another quarter, another record for Apple - Steve Jobs classified the fiscal quarter that ends in June as "best quarter ever". iPhone and iPad sales more than doubled and revenue and profit are through the roof.

Apple's fiscal quarter that ended 25 June saw a little over 20 million iPhones get sold - which means iPhone sales grew 142% year-over-year. This accounted for $13.3 billion in revenue, close to half of the $28.5 billion revenues in total for the whole company.

iPads did exceptionally well - with over 9 million units sold and a whopping 183% growth in sales, they accounted for $6 billion in revenue. Apple said they sold every iPad they've manufactured, so they've ramped up production. though they admitted that iPads are cannibalizing Mac sales, apparently they're hitting PC sales worse. Notably, there are now 100,000 iPad-oriented apps.

iPods are on a steep decline (even though they beat expectations), selling just 7.5 million units (less than the iPad) and chipping in with $5 billion in revenue. Half of the iPods sold were of the iPod touch vaiety and iPods overall control 70% of the MP3 player market. iTunes posted revenue of $1.4 billion, up 36% year-on-year.

It's worth noting that put together, desktop Macs and portable Macs accounted for less revenue than the iPad. Macs did experience a 14% increase compared to last year's quarter and Apple announced they're launching Lion today. Still, iOS devices have reached a total number of 222 million.

Anyway, Apple's net profit was a record breaking $7.31 billion, up from a "measly" $3.25 billion in the year-ago quarter, an impressive 125% increase Year-on-Year (YoY). Revenue broke a record too, reaching $28.57 billion, up from $15.7 billion in the same quarter last year (that's 82% up YoY). Gross margin went up YoY, from 39.1% to %41.7. For a while in after hours trading, Apple stock hit $400.

You can check out the full press release for more numbers or listen to the conference call.

Apple's COO Peter Oppenheimer said there will be a lot going on in the Fall and hinted at a product transition but didn’t say anything further. Now, there's an iPhone successor that should be coming out in the Fall and the rumor mill talks of new MacBook Airs and maybe even a new iPad. Apple assured that they're hard at work on iOS5 and iCloud though

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