Apple Inc. (Nasdaq: AAPL) reported a gain of $7.31 billion for the third quarter thanks to its mobile device sales. The company sold 20.34 million iPhones and 9.25 million iPads in the quarter, representing 142 percent and 183 percent year-on-year growth, respectively. (See Apple Reports Q3.)

The Cupertino software powerhouse gained $7.79 a share on revenues of $28.57 billion. A year earlier it reported a profit of $3.25 billion or $3.51 a share on revenues of $ 15.7 billion.

Analysts polled by Thomson Reuters expected a profit of $5.84 on revenue of $24.9 billion.

Shares of Apple are up $3.05 (.82%) to $376.85 in after-market trading.

— Sarah Reedy, Senior Reporter, Light Reading Mobile