Apple's Q2 profit up 36% to $1.05B

Apple Inc. reported second quarter net income Wednesday of $1.05 billion, or $1.16 a share, up from $770 million, or 87 cents a share in the same period last year.

Cupertino-based Apple (NASDAQ:AAPL) said Mac sales led revenue growth to $7.51 billion, compared to the year-ago quarter's $5.26 billion.

The results outpaced the company's earlier forecast of earnings of 94 cents a share on $6.8 billion in revenue.

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Analysts expected, on average, earnings of $1.05 a share on $7 billion revenue.

Apple said it sold 2.29 million Macintosh computers during the quarter, 1.7 million iPhones and 10.6 million iPods.

Looking ahead, the company expects third quarter earnings of $1 a share on $7.2 billion in revenue.