Apple on Tuesday reported a 90 per cent increase in second-quarter profit, far surpassing bullish Wall Street estimates with a 49 per cent increase in revenue.

The consumer computer products group had been expected to record earnings per share of $2.46 on sales of about $12bn; instead, it reported $3.33 a share, or $3.1bn in total, on sales of $13.5bn in the three months to March 27. Stock in Apple rose more than 5 per cent in after-market trading.

Steve Jobs, chief executive, said the new iPad computer had been well received since going on sale on April 3 and promised “several more extraordinary products in the pipeline for this year”. Analysts expect a new version of the iPhone to be released as early as June.

Apple’s desktop computer sales rose 40 per cent on a volume basis from the second quarter a year ago, while portable MacBook computers gained 28 per cent.

The biggest surprise was the iPhone. Shipments more than doubled, thanks in part to the addition of new carriers, such as Vodafone in the UK. However, iPod units slipped 1 per cent.

With an average $600 selling price, iPhone sales and related revenue gained 124 per cent to $5.4bn, easily exceeding the $3.8bn in revenue from desktop and portable computers. The iPhone did especially well in Europe and Asia, where sales rose 400 per cent.

(Source: Financial Times / CNN)