UPDATE: New iPhone boosts Apple's bottom line.: Device giant ships 7.4M iPhones, stock tops $200

Apple Inc. continued its assault on the mobile space during its fiscal fourth quarter ended Sept. 26 selling nearly 7.4 million iPhone devices, which was a 7% increase over the previous year and in-line with analysts’ estimates. The robust iPhone sales in addition to stronger than expected sales of its personal computers sent Apple’s stock up nearly 1% in late Monday trading to almost $190 per share, and then briefly over $200 per share early Tuesday.
Apple said iPhone sales were bolstered by an increase in sales channels following the recent launch of its upgraded 3GS models and that sell-through surged 38% year-over-year during the quarter. That growth is not expected to wane as Apple said it was preparing to begin selling the device in China later this month and plans to expand its carrier relationships in the U.K. and Canada.
Industry research firm iSuppli Corp. said it expects Apple will have increased its share of the smartphone market from the 10.1% it grabbed during the second calendar quarter of this year.
Apple’s total revenues jumped from $7.9 billion during the fourth quarter of 2008 to $9.87 billion this year. Net income also increased from $1.14 billion in 2008, a return of $1.26 per diluted share, to $1.67 billion this year, a return of $1.82 per diluted share.
Apple’s strong iPhone sales could also spell good news for AT&T Mobility, which is the exclusive home for the device in the U.S. The industry’s No. 2 carrier is scheduled to release Q3 results on Oct. 22.