Apple Reports $35 Billion In Quarter Revenues
Apple has reported their third quarter earnings. They reported a quarterly revenue of $35 billion and net profit of $8.8 billion. Analysts were expecting $37 billion with profits of $10.36 per share instead of $9.32.
However we all knew that analyst expectations would fall short even before Apple made their earnings announcement. Consumers are holding off from buying new iPhones because of the upcoming iPhone 5.
Apple’s revenues are up from $28.6 billion in revenue and profits of $7.3 billion in the same quarter for 2011. Sixty-two percent of Apple’s revenues were accounted by international sales. Apple sold 26 million iPhones in the quarter, which is 28% growth year on year. About 17 million iPads were sold with a growth of 84%. Four million Macs were sold at a 2% growth rate. Around 6.8 million iPods were sold, which is a 10% decline year-on-year. Apple CEO Tim Cook and CFO Peter Oppenheimer mentioned how the financial crisis in Europe affected Apple’s overall sales during the earnings call from yesterday.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry