The success of the two R-rated comedies has resulted in the $205m (£162m) total US gross being 15% up on the same period last year.
Deadline reports that Ted earned $20.5m in its first day, outgrossing the previous record-holder for an original R-rated comedy, 2009's The Hangover.
Ted is Family Guy and American Dad creator Seth MacFarlane's first Hollywood movie, and features Mark Wahlberg as a man still attached to his childhood teddy bear, voiced by MacFarlane.
Meanwhile, Magic Mike achieved an equally excellent $18m (£14.2m) on Friday, in another hit for Channing Tatum after the success of 21 Jump Street.
The Steven Soderbergh-directed film, starring Tatum and Matthew McConaughey as male strippers, has proved particularly popular with female audiences, with Warner Bros marketing the film with the tagline: "On June 29th tell your boyfriend you're going to the book club."
According to Fandango and MovieTickets, the two biggest online movie ticket sellers in the US, Magic Mike was the number one ticket seller over the weekend, outselling the likes of Bridesmaids and Mamma Mia! at the equivalent point in the sales cycle.
Magic Mike is released in the UK on July 11, and Ted sees its UK release on August 1.
Watch the red band trailer for Ted below: