On pace: Apple sells 1.7 million iPhones during quarter

Apple Inc. reported revenue of $7.5 billion and net profit over $1 billion in its second fiscal quarter, with revenue beating expectations. That’s up from revenue of $5.3 billion and net profit of $770 million in the year-ago quarter.
The company’s iPhone sales for the quarter reached 1.7 million — which the company said kept it on pace to reach its year-end goal of 10 million iPhones sold. Apple reported selling 2.3 million Macintosh computers, a 51% jump in unit volume and 54% rise in revenue over the year-ago quarter. It sold 10.6 million iPods.
Apple’s stock rose near 2% before sinking nearly 1% in after-hours trading.
However, the company’s forecast of $1 per share earnings and $7.2 billion in revenue for the fiscal third quarter fell below expectations, as did its projection for flat gross margins.
CEO Steve Jobs, in a prepared statement, said that the results were the best ever for the second fiscal quarter.
Forbes.com reported today that Apple acknowledged purchasing a semiconductor specialist, PA Semi — terms undisclosed — which the financial site said could provide Apple with a key iPhone component that can provide heavy-duty processing at low power. PA Semi’s chips are not yet used by Apple, but the acquisition may allow Apple greater control over its fate, Forbes.com reported.