(Telecompaper) Apple reported a small increase in revenues for its fiscal third quarter to June, to USD 37.4 billion from USD 35.3 billion a year earlier, in line with its earlier guidance. The growth was driven by expanded distribution in China, where revenues rose 28 percent year-on-year to USD 5.3 billion. Net profit rose to USD 7.7 billion or USD 1.28 per share from USD 6.9 billion or USD 1.07 per share in the year-ago quarter. The gross margin was better than expected, at 39.4 percent versus 36.9 a year ago. iPhone sales were up 13 percent from a year ago but 19 percent lower than the previous quarter at 35.2 million units. iPad sales fell 9 percent year-on-year and 19 percent sequentially to 13.3 million units. Mac sales rose 18 percent annually and 7 percent from the previous quarter to 4.4 million. For the current quarter, Apple forecast revenue of USD 37-40 billion and a gross margin of 37-38 percent.