Apple reports quarterly earnings led by solid iPhone sales

[Shawn Knight]

Apple on Tuesday posted fiscal third quarter results led by solid iPhone sales. The Cupertino-based company brought in $37.4 billion in revenues, up six percent compared to the year-ago quarter. Profit checked in at $7.75 billion, up from the $6.9 billion during the same period in 2013.

Tim Cook and company sold 35.2 million iPhones during the quarter, a jump of 12.7 percent year-over-year although just shy of analysts' estimates. It's an impressive figure considering we're just a few months away from one of the most anticipated iPhone launches ever but it's worth pointing out that strong overseas iPhone sales certainly played a part in the quarterly figure.

While iPhone sales were solid, Apple once again turned in disappointing results as it relates to the iPad. Sales were down 9.2 percent at just 13.3 million versus the 14.6 million units moved last year. iPad sales were down 16 percent during the previous quarter.

Apple is clearly having a hard time moving its tablet in the wake of cheaper competition and large-screen smartphones.

Apple shares are up 0.83 percent in after hours trading as of writing, currently priced at $94.72. That may seem low if you kept up with Apple's ridiculously high stock prices not all that long ago but you have to remember, the company did a seven-for-one stock split back in June.

Looking ahead, Apple anticipates revenues of $37 billion to $40 billion during the next quarter.

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https://www.techspot.com/news/57499-apple-reports-quarterly-earnings-led-by-solid-iphone-sales.html

 

[Skidmarksdeluxe]

Only 35.2 million? So why did they just order 70-80 million new model iPhones? Do they think it'll be such a great new and 'revolutionary' product that sales will more than double? Apple and their corporate BS... You know they're lying when their lips are flapping.

 

[Guest]

That's 35.2m in the last 3 months, not in the last year. So yes, it is completely possible they could sell twice as much as that with 4 times as long to do so.

How about you work on your reading comprehension before going on a 'hurr Apple are bad' rant.

 

[Guest]

Only 35.2 million? So why did they just order 70-80 million new model iPhones? Do they think it'll be such a great new and 'revolutionary' product that sales will more than double? Apple and their corporate BS... You know they're lying when their lips are flapping.

Demand is much higher after a new iPhone model is released. For instance, when the iPhone 5s was released, it sold 9 million units in is first weekend alone, which is already 25% of this latest quarterly report.
Also, you do comprehend what a "quarter" is, don't you?
And the fellow guest above me is right. The way the regular commenters on this site jump at every chance of attacking Apple without even knowing what they are talking about is getting beyond ridiculous. You people are becoming even more annoying than the blind Apple fanatics.

 

[Railman]

My wife recently purchased a iPad and she loves it but I still prefer to use an old fashion PC. There have been quite a few companies who have announced disappointing sales figures for tablets so it does appear that the market is now saturated with them. It always fills me with joy when analysts are proved wrong.