Apple Obliterates Q3 Earnings Estimates On Best Mac Sales Ever And Huge iPad Numbers

In news that should surprise no one by now -- Apple once again had a stellar quarter and blew past Wall Street estimates for Q3 2010. Just as with Q1 and Q2 of this year, Apple has been doing so well thanks largely to the iPhone. But unlike those quarters, Apple now has an important new product adding money to their bottom line: the iPad (the iPad had been released just prior to the closing of Q2). And this quarter actually marked Apple's best ever in terms both revenue and Mac shipments. Apple posted a revenue of $15.7 billion for the quarter (again, a new record -- beating even holiday quarters). And net quarterly profit was at $3.25 billion -- $3.51 per diluted share. All of those easily beat both Apple's own (always low) estimates, as well as Wall Street's.