Apple beats Wall Street expectations with record iPhone sales

By on July 23, 2013, 6:30 PM
apple, iphone, ipad, itunes, wall street, apps, analysts, quarterly earnings

Apple on Tuesday reported third quarter earnings that beat out Wall Street estimates thanks to record iPhone sales. Cupertino moved 31.2 million iPhones during the three month period which is the most phones they have ever sold during a third quarter.

Tim Cook and company reported $35.6 billion in sales, up from $35 billion during the same quarter last year although profit slipped to $6.9 billion, down 22 percent. Along with the record number of handsets sold, Apple moved 14.6 million iPads (down from last year’s 17 million) and 3.8 million Macs (last year Apple sold 4 million). Interestingly enough, Apple didn’t even bother to report iPod sales but for what it’s worth, the company sold 6.8 million units during the quarter last year.

Elsewhere, Apple’s digital marketplaces turned in impressive numbers. With iTunes, users have downloaded a billion television episodes and 390 million movies which when broken down further, equates to 800,000 TV shows and 350,000 movies every day.

The App Store recently celebrated its 50 billionth app download. At present, there are more than 900,000 apps available with some 375,000 created specifically for the iPad. Through these apps, developers have earned $11 billion from sales with half of that revenue coming during the last four quarters.

Finally, Apple’s retail stores welcomed 48 million visitors during the quarter, raking in $667 million in the process. Cupertino added six new stores and expanded to five new countries. In total, Apple now operates 408 retail stores which include 156 outside of the US.

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