Apple 3Q profits soar

Apple Inc., a San Francisco, Calif.-based technology company, third quarter profits jumped 31 percent, which some analysts say was helped by the new iPhone and the ever-popular sleek Macintosh notebooks. This beat Wall Street’s estimate.

This hip tech savy company posted revenue of $7.46 billion and net profited $1.07 billion, for the third quarter ending June 28, or $1.19 per diluted share. These numbers compare to revenue of $5.21 billion and net profited $818 million, or $.92 per diluted share, in year ago. 

Steve Jobs, Apple’s CEO, said “We’re proud to report the best June quarter for both revenue and earning in Apple’s history.” The company shipped 2.5 million Mac computers during the quarter, according to Apple’s recent earning press release. 

Gas prices fall back

Consumers are now getting somewhat of a break, at the pump. Gas prices continued to fall overnight, according to news reports. 

According to AAA, the current (Monday, July 21) average for regular unleaded gas in Illinois is $4.17, medium at $4.49, premium at $4.63 and diesel at $4.82. The average on Sunday, July 20 was regular at $4.19, medium at $4.50, premium at $.64 and diesel at $4.87.  A year ago (2007), the regular average was $3.21, medium $3.45, premium $3.52 and diesel at $3.03.

“Gas prices in Alaska, that with the highest prices, fell to $4.66 a gallon from $4.64 the day before. Hawaii, the state with the second highest prices, saw prices fall to $4.46. California prices fell a penny to $4.44 on average,” according to CNNMoney.com