Apple sets new quarterly earnings high

Apple has posted its best quarter ever

Apple has posted its best ever financial quarter on the back of strong Mac and iPhone sales, and the successful debut of the iPhone 4.

The company said that overall earnings were up 78 per cent on the previous year's quarter to $15.7bn (£10.27bn).

Apple sold 3.4 million Macs over the quarter, the best ever for the company's flagship computer line, and reported record sales to the educational market.

IPhone sales, meanwhile, rose 61 per cent over last year with some 8.4 million units shipped.

Apple has also published estimates of the cost of providing free bumpers to alleviate the iPhone 4 antenna problems. Chief financial officer Peter Oppenheimer disclosed that the company will defer $175m (£114m) from its next financial quarter.

Chief operating officer Tim Cook denied suggestions that Apple is seeing a backlash from the so-called 'antennagate' saga, telling analysts that Apple is "selling every unit we can make currently".

Cook was also upbeat about the iPad, claiming that Apple had moved 3.27 million units in the first three months.

Apple also claimed a strong enterprise reception for the iPad, reporting that roughly half of Fortune 100 companies are deploying or testing the device for corporate use.