Apple has reported a third quarter profit of $61 million on revenues of $1.475 billion. Analysts had been expecting Apple to report a profit of $54 million on revenues of $1.6 billion. Apple shipped 827,000 Macs during the quarter, the company said, including 182,000 new iBooks. Apple’s two retail stores did “very well” and Apple plans on opening another 23 this year. Apple closed the quarter with $4.2 billion in cash. Shares of Apple closed up $1.14 (4.76%) ahead of the earnings.