Tue. Sep 17th, 2019




Apple Posts Q3 Financial Results, Sells Record Number of New iPad Devices

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Seemingly nothing can stop the ever-growing Apple empire. Apple reported earnings for the last quarter of $8.8 billion USD, or $9.32 per share, a $1.5 billion gain over last year. No big surprise, although it was below analyst expectations, which stood at $10.37 per share.

Apple Inc.’s senior vice president and Chief Financial Officer Peter Oppenheimer says Apple’s record quarter was driven primarily by strong iPad and iPhone sales. iPhone dropped to 26 million unit sales, which is to be expected with the new iPhone 5 on the horizon. The company sold an all-time record 17 million new iPad devices and discounted iPad 2 devices. Sales of the iPad 2 models continued strong even after the new iPad’s launch last quarter. In addition to strong iPad and iPhone sales, iPod sales beat expectations, and iPod Touch continues to sell more than half of all iPods.

“We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”

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