HEXUS.sharewatch: Apple and Microsoft benefit from good Q3 results

Q3 earnings season continued last week and two of the biggest companies on our list - Apple and Microsoft - both reported, and both exceeded expectations.

Apple significantly improved on its revenue and profit of the same quarter a year ago on the back of a 17 percent rise in Mac sales - compared to iPod and iPhone rises of eight and seven percent, respectively.

"We are thrilled to have sold more Macs and iPhones than in any previous quarter," said Steve Jobs, Apple's CEO. "We've got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010."

Microsoft's revenue was down 14 percent on a year ago, but still topped expectations. "We are very pleased with our performance this quarter and particularly by the strong consumer demand for Windows," said Chris Liddell, CFO at Microsoft. "We also maintained our cost discipline, which allowed us to drive strong earnings performance despite continued tough overall economic conditions."

Of interest in the table below is that, by market cap, Apple is now the second biggest company on our list. Also worth noting is the recent period of relative calm in broader markets, with all three indices remaining pretty flat over the past three weeks.